Apple has unveiled its long-anticipated smartwatch, its first new product line since the first iPad and the death of co-founder Steve Jobs.

The Apple watch runs apps, acts as a health and fitness tracker, and communicates with the iPhone.

It's the first new product to be developed and introduced under Chief Executive Officer Tim Cook's leadership.

Cook presented the Apple Watch after introducing the new iPhone 6 and 6 Plus.

"Today, we have some amazing products to share with you. Apple watch is the most personal device we've ever created. We set out to make the best watch in the world. One that's precise. it's incredibly customizable, and it works seamlessly with iphones, and it's also a comprehensive health and fitness device."

The watch will come in a variety of colors and faces.

The Apple watch will likely go on sale in 2015, but an official release date has not been determined.

Apple also unveiled two new iPhone handsets that are larger than previous models, confirming longstanding speculation it will move into a market segment dominated by arch-rival Samsung Electronics.

Phil Schiller is Apple's senior vice president of Worldwide Marketing reporting.

Their design is like nothing ever before, incredibly unique. From the glass front, the curves around the sides, to be seamlessly ... aluminum back, complete with seamless apple. It is truly the most beautiful phone you've ever seen."

The iPhone 6's screen measures 4.7 inches and the iPhone 6 Plus's 5.5 inches.

It also boasts extra-tough screens made from scratch-resistant sapphire material.

The handsets will be available for sale on September 19.

It also announced a new service called Apple Pay, which chief executive Tim Cook said he hoped would "replace the wallet" in shops.

For more on Apple's latest products launch, we'll talk to our commentator Benjamin Cavender later in the business section.