ABC News' David Muir spoke with Apple CEO Tim Cook moments after he introduced the new Apple Watch and got an exclusive first look at the company's latest device.

The watches, which come in three collections and a range of faces, can differentiate between a touch and a press, said Apple senior vice president of design Jony Ive in a pre-recorded video. While talking with Muir, Cook was sporting an Apple Watch with a white band.

"You can do a lot with your wrist," Cook said. "A lot more now."

RELATED: ABC News' David Muir's One-on-One with Tim Cook: 'I Think Steve Jobs Is Smiling Right Now'

RELATED: Apple (AAPL) Introduces the Apple Watch

RELATED: Apple Introduces iPhone 6 and iPhone 6 Plus

During his demonstration on the Flint Center stage in Cupertino, California, Cook said the watch is a customizable timepiece. Users can choose watch faces that include minute and second hands, digital time and more options for personalization. For people who don't wish to wear a large device, Apple developed a smaller watch, 38 mm in height, compared with the 42 mm option, with matching smaller straps.

"[The wrist is] a very interesting place because it's, you can obviously glance with it, you can't glance at a lot of other places on your body," Cook told Muir. "You can measure a lot of things from there and you can just get, honestly, a tidbit today of what all it can do. But I think it's huge."

In addition, the watch will have the newly-introduced payment system Apple Pay. It uses a new chip embedded in the device called the Secure Element, which stores users encrypted payment information and allows them to pay for items with a simple swipe.

"It's incredibly safe," Cook said. "I feel incredibly certain that it's very secure - the most secure thing out there."

Cook made today's big unveiling announcement from the same stage where the company's late co-founder, Steve Jobs, unveiled the Mac computer 30 years ago. When asked if he felt like a revolutionary, Cook brushed off the notion, saying it was the work of the company as a whole he was proud of.

"It's such a privilege to get to work with all the people I get to work with," Cook said. "So the work you saw out there is the culmination of everybody's efforts and so that's the lens I see it through, and I'm just proud as I can be to stand up there and show their work."

Apple Watch, which starts at $349, will be available in early 2015.

ABC News' Alyssa Newcomb contributed to this report