Apple (AAPL) Cuts Price of Apple Watch, Introduces New Bands

— -- The Apple Watch is getting a $50 price cut, Apple CEO Tim Cook announced today.

The devices will start at $299, Cook announced at the company's spring product launch event in San Francisco. The company also introduced new watch bands, including a new band that's made of woven nylon.

Cook said about a third of Apple Watch wearers regularly change their bands. Cook introduced new colors, which he called a "spring lineup" for its sport and leather bands and a space-black Milanese loop.