E-commerce giant Amazon has cut the price tag of the 40mm Apple Watch 5 with GPS to $384.99, a $15 discount on the tech product. A purchase of the Apple Watch 5 on Amazon will also be eligible for Amazon Prime delivery.

The 5 series was announced on Sept. 10 during Apple's fall event and was released on Sept. 20.

The 5 series features an always-on display and a feature that allows the user to make emergency calls from over 150 countries.

Apple faces strong competition. The Samsung Galaxy Watch Active 2 launches on Sept. 27, with a Bluetooth model coming at $279. The watch will have an electrocardiogram sensor and an irregular-heart-rhythm notification for health-minded consumers.

Other alternatives include the Fossil Sport and the lower-priced Fitbit Versa, which doesn't have GPS.

Apple is pushing the new Apple Watch in order to diversify its business in the wake of lower iPhone sales this year. Apple is also going to launch its streaming service AppleTV+ in November, at $4.99 a month.

In the second quarter of 2019, Apple was the smartwatch leader, shipping an estimated 5.7 million units. Samsung was the second-highest, with an estimated 2 million units shipped that quarter.

Apple's first watch was released in April 2015.

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