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Motorola Launches New Version of Smartwatch

Motorola has launched a new version of its smartwatch in a bid to repeat the success it had with its original model in a market that is becoming increasingly competitive.

The new Moto 360 collection has two models—a regular and a "Sport" version.

Motorola has played up the customizable aspect in a bid to differentiate its product. The company said the Moto 360 has quickly changeable straps and is part of its Moto Maker program where users can customize each part of the watch.

TODAY anchors demo the Samsung smartwatch 1:11

The Lenovo-owned company broke ground last year by introducing a round-faced smartwatch, one of the first on the market. But as manufacturers have become more fashion-conscious, a number have unveiled round-faced stylish smartwatches which could take away one of the Moto 360's key selling points.

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Samsung took the wraps of its Gear S2 this week, while Huawei gave more details about its upcoming smartwatch as the wearable space becomes increasingly crowded.

"The new Moto 360 is going to be a tough sell compared to the original. It is no longer a unique device and the slick design of the Samsung Gear S2 has definitely raised the bar," Ben Wood, chief of research at CCS Insight, told CNBC by email.

The Moto 360 runs Google's Android Wear operating system. This means the smartwatch is compatible with both Android phones as well as IPhones after Google made Android Wear compatible with iOS.

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