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Finally we are getting a price tag that is appropriate for a smart watch...

There goes the resale value of the Series 4/5
I wouldn't consider a smartwatch an asset in first place... Once you start using it, write off the purchase price immediately and don't expect to regain anything from it. If you do, nice, but don't expect it.
I treat my stuff with almost maximum possible care, but the watch... that's considered a wear & tear item. If used as intended (including submerging during swimming), wearing during other sports/activites,... there's a significant risk of damage or failure.
 
It is the company's transition to services, they need volume sales to drive user base up.

They will not do these flash sales themselves so they use authorized sales partners like Amazon BestBuy, Walmart, etc. to do it.

And quite frankly I think it is working, $230 is a good price for the leading wearable device on the market... then this person is likely to bump up iCloud storage, subscribe to Music or to their fitness service, all triggered by owning the hardware.
LOL, yeah right....
 
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