I disagree. Watches that cost below $1k are seen as "low-end". At the higher levels it's all about prestige. I had a boss that wore a $50k Franck Muller to matc

I disagree. Watches that cost below $1k are seen as "low-end". At the higher levels it's all about prestige. I had a boss that wore a $50k Franck Muller to match his $150k pinky ring. He only cared about showing it off. It's a piece of jewelry to him. The new "watchlet" is not expensive enough or exclusive enough to warrant any prestige from the truly wealthy. I doubt it will have much impact on Rolex's bottom line. Now if you said Tag, Burberry, Movado, etc, then I would agree. Those are lower end quality watches with a similar pricing. Bottom line: The apple watch targets younger crowd with excess cash, not the rich like Rolex.