Apple Watch, Pebble Time Vie For Smart Watch Market

By John Dodge

CHICAGO (CBS)  --  Not so long ago, the world was pondering the death of the wristwatch.

As the story goes,  people who grew up with a smart phone in their hands, found it unnecessary, or even unnatural, to use a device to tell the time.

Despite that, or perhaps because of it, (it's really hard to know) the phone is migrating to a fashionable, so-called "wearable device."  The smart phone is becoming the smart watch.

Apple is putting its reputation behind the concept that technology is moving to a more intimate place—our bodies.  First stop: the wrist.  The goal: to free people from their phones, which have become too dominant in our digital world.  It is the first truly new product since the death of Apple leader Steve Jobs in 2011.

A company called Pebble beat Apple to market with its first smart watch.

It just completed a record-setting Kickstarter funding campaign for its third-generation model called Pebble Time, a device with significant changes to make it more competitive with the Apple Watch.

Both devices will be available in the next few weeks.  Apple is delivering this first pre-orders on April 24, but the watch reportedly won't be available in stores for weeks to come.  Pebble says it will deliver its newest device to Kickstarter supporters next month.

So, which device would be best for you?

Or is it even worth it?

Initial reviews of the Apple Watch are generally favorable, but many conclude that this is not a piece of must-have technology.

Indeed, the big reveal by Apple chief Tim Cook focused heavily on intimate user interactions that seem trivial, if not annoying, like doodling on the watch face or sending a "heartbeat' to another user.

The most popular uses for both devices will be for  health and fitness tracking.

Pebble's CEO and founder, Eric Migicovsky, says fitness apps such as RunKeeper, Jawbone Up,  and Misfit are among the most popular apps. As one might expect, the apps track a user's activity during the day. Apps that track sleep are also a big draw.

Anybody with an iPhone already knows that Apple is hot to integrate health applications with its watch, as recent iOS updates automatically added home screen buttons for the Watch and Health.

Both devices also have the ability to pay for purchases. While testing the second-generation Pebble Steel, I was able to pay for my Starbucks using JavaPay, which was linked to an existing Starbucks card.  Pebble can also sync with a PayPal account to pay for purchases a participating retailers. Dunkin' Donuts also has a pay app for Pebble devices.

Apple  has the much-hyped Apple Pay system that makes it easy to make purchases digitally by adding your bank card to the Passport feature on the iPhone.  A similar option will be on the watch as well.

Pebble Time is a significant upgrade from the Steel:  the new watch has a color screen, a microphone to send short messages and is 20 percent thinner than the earlier generation. These are all features on the first-generation Apple Watch.

For users looking for an experience similar to the Apple Watch, it would be worth waiting for Pebble Time to become available. (The initial orders are going to Kickstarter supporters, which forked over more than $20 million in pre-orders.)

However, if you don't mind a black and white interface, and don't care about a sleeker design, Pebble Steel is a relative bargain, in comparison, selling for $199.

If price is a deciding factor, Pebble is by far the more affordable option. Pebble Time will retail for $199 (three designs); the more upscale Time Steel for $299 (three designs). (Early birds on Kickstarter got it for $250.)

The Apple Sport runs $349-$399, which is considered an entry-level model. The Apple Watch starts around $549, while the Apple Edition starts for a jaw-dropping $10,000.  There are nearly 40 different watch designs.

Pebble wins the battle of the battery.  According to Apple Watch reviews, the device needs to be charged daily. I was able to go nearly six days without charging the Pebble Steel.

Pebble also offers Android and iOS apps for its watch. Migicovsky declined to share data on percentage of users who download iOS vs. Android for their watches.

In the end, does anybody need a device to do what Apple Watch and Pebble Time do?  No, not really.

If you haven't jumped on the pre-order bandwagon for either device, it might be worth being patient for another month or two. If a watch is truly in your future, you can then do more due diligence and ask whether paying a premium for an Apple device is worth it.

However, the beauty and utility of technology is often in the eye of the beholder, and there are clearly some nice features on both devices.

Not be overlooked: Both have a tremendous variety of actual watch faces—you know that actually tell time.