Update: The TAG Heuer Connected is now official. It goes on sale for $1500 very soon, has a 46mm case, connects with Android and iOS phones and will be available with a choice of 7 different color straps. Watch the promo video, see the official press renders and read up on the full official details here.

Swiss watchmaker TAG Heuer has announced that its Android Wear-based Carrera Connected smartwatch, launching today in New York, will have go on sale at $1500, a little lower than previously expected.

TAG Heuer CEO Jean-Claude Biver told Le Matin Dimanche that he didn’t want to reveal too much ahead of today’s official unveiling, which takes place at 11am ET. Although it runs on Android Wear, the company appears to be targeting Apple rather than existing Android brands … 

Our watch will have almost the same features as an Apple Watch, but I don’t want to say too much.

The watch, which is based on the company’s traditional Carrera watch (above right), is made from titanium and will offer a choice of six, brightly-colored wristbands. The company has so far revealed few details, but has said that at “a certain distance” it should not be distinguishable from its analog namesake.

One interesting question will be whether the Carrera Connected can be called ‘Swiss made’: the law says that 50% of the components must be made within Switzerland to qualify, and TAG Heuer is buying in the smartwatch components from the USA.

Biver has previously suggested that smartwatches may get younger people used to wearing a watch and that they would then want “a real watch.” The company may have to work hard on its sales efforts after Apple last year poached its VP of Sales and Retail, but TAG Heuer seems to be aiming small, stating that just 1,000 units will go on sale in New York before the European launch later this week.

You’ll be able to watch a livestream of the event on YouTube.