Apple Watch just received a new set of colorful nylon straps at the company's yearly March event, while the cheapest smartwatch was discounted to $299. Sport and leather Watch bands will also be available in new colors. The tech giant also announced the new 4-inch iPhone SE, 9.7-inch iPad Pro, iOS 9.3, and Carekit app that provides people with data about health and symptoms.

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Apple Watch's discounted price is $50 cheaper than the $349 starting price when the smart watch was launched last year, according to Fortune. This is the first time Apple has dropped the price of Watch.

 The tech giant also introduced new watchbands for the wrist wearable including woven nylon units available in four colors. There are also new sport and leather watch straps.

Apple's stainless steel Milanese Loop band is also now offered in a new all-black version. Key benefits of the weaved mesh strap include keeping its color and form, better airflow, and adjustments for very small or large wrists.      

Apple's March 21 press event took place at its headquarters in Cupertino, California. The name of the event was "Let us loop you in," implying that new watchbands could be shown at the yearly extravaganza.   

 In addition, some leaks suggested the maker of smartphones, tablets, and smartwatches would roll out new accessories for the wrist wearable. Many rumor sites also revealed that new watch bands would be featured at the March event.  

Apple CEO Tim Cook explained the reason for rolling out new wristbands was that around one-third of Apple Watch owners often change their bands.

However, Cook did not reveal any sales figures for the best-selling smartwatch in the world. The company has argued that sharing such data would benefit rival companies.

Apple also unveiled its new 4-inch iPhone SE and a smaller iPad Pro at the yearly event. The SE has the same processor and graphics power of the iPhone 6s. It includes a A9 chip, 12MP camera, 4K video shooting, and ability to run digital assistant Siri and digital wallet service Apple Pay, according to CNN.

Meanwhile, the new iPad Pro features snap-on keyboards and works with the Apple Pencil stylus. It also includes a 12MP camera and back-facing LED flash.

Here's a first look at iPhone SE: