Before all the Apple fanfolk completely hyperventilate at this 'blatant ripoff', let's take a moment to consider that the company is clearly not aiming at the 'more money than brains' crowd that the Apple Watch aims for. And probably at the market where $48 is a big deal.
Let's take another moment to consider that Apple is far clear of their own blatant ripoffs (sorry....'reverse engineering') going as far back as the mouse and windows GUI as created by IBM PARC, or, say, more recently, arguably the original Touch / iPhone vs the Palm TX.