LG launches ‘Urbane’ Luxury Smartwatch

South Korean consumer electronics maker LG Electronics Inc. has launched a new luxury smartwatch, tracking its chief competitor Apple Inc.

The smartwatch is based on LG’s latest wearable, the Urbane Watch, and features a 23-carat gold case with an alligator leather strap. The 23-carat gold used in the “LG Watch Urbane Luxe” is stronger and harder than the 24-carat gold used in jewelry, and heavier than the 18-carat gold used in traditional luxury watches, Blogs.wsj.com reports, citing company sources.

Apple also uses 18-carat gold for its luxury smartwatches, launched earlier this year. But LG not only beats Apple in terms of quality, but also in price. While the Apple Watch starts at $10,000 and can cost up to $17,000, LG’s luxury smartwatch will retail for “approximately $1,200” LG said Monday.