The Apple Watch has debuted and Apple CEO Tim Cook calls it “the most personal device we’ve ever created.”

The Apple Watch will debut with a starting cost of $349, and will be available in early 2015.

In order to operate the watch requires an iPhone 5 or newer model. That means more than 200 million Apple users already have a device that is compatible with the Apple Watch.

Apple Pay, the company’s new payment system is already compatible with the watch.

When Tim Cook says the company had “one more thing,” a saying he borrowed from the late Steve Jobs, he received a standing ovation.

“Because you wear it, we invented new intimate ways to connect and communicate directly from your wrist and it works seamlessly with iPhone,” Cook said. “And it’s also a comprehensive health and fitness device.”

Cook also revealed that the device’s extra functionality will be fully controlled with the digital crown, because the “pinch to zoom” gesture would cover the Apple Watch’s content and obstructs your view.

The Apple Watch will debut in three separate collections with different faces. The Apple Watch is also able to tell the difference between a touch and a press.

At first glance the Apple Watch most certainly looks like a miniature version of the company’s popular iPhone series, however, it also features a more rounded device, and a stylish strap that even executives will be happy to sport.

As Cook further explains:

“Creating beautiful objects that are as simple and pure as they are functional, well, that’s always been our goal at Apple. We designed Apple Watch as a whole range of products enabling millions of unique designs,” Ive said. “I think we are now at a compelling beginning actually designing technology to be worn, to be truly personal.”

The watches customized features mean users can choose watch faces that include minute and second hands, digital time and other personalized options. If you don’t like wearing a large timepiece on your wrist, fret not, because Apple developed a smaller watch with matching smaller straps.

According to Apple senior vice president of design Jony Ive,  “The leather loop comes in a soft quilted leather that conceals magnets for fastening and adjustment.”

Ive’s further reveals that the Apple Watch is essentially a, “miniaturizing an entire computer system on a single chip.”

If you prefer a sports watch, Apple created the Sport Collection with an  anodized aluminum case that’s 60 percent stronger than standard alloy. There is also an “Apple Edition” that comes in 18-karat gold which was developed to be “twice as hard as standard gold.”

Will you be running out to buy the Apple Watch in early 2015? Which model would you like to get your hands on?