Apple CEO Tim Cook introduces the Apple Watch during an Apple event in San Francisco, California on March 9, 2015. [Photo/Agencies]

Apple unveiled Monday the company's first wearable product, known as Apple Watch.

Apple Chief Executive Officer Tim Cook started his presentation at a San Francisco event by introducing a new Apple Store in eastern Chinese city of Hangzhou.

Apple, headquartered in Cupertino, northern California, has seen its presence outside the United States, especially China, ever expanding as analysts expect its revenues overseas surpassing those at home market.

Apple Watch was first announced in September 2014, when iPhone 6 and iPhone Plus, the new versions of Apple smartphone, were officially introduced.

The smart watch is the company's newest device in years. Its previous device, iPad, was released in 2010. Other companies have had smart watches on the market for years.

The device costs $349 for a base model, while a luxury gold version will go for $10,000. Apple Watch works mostly with iPhone and claims to carry more features and facilitates more applications, or apps, than parallel products on the market.

Among basic functions, it shows email, texts and phone calls, news and fitness readings, as well as weather forecast and personal schedules.

The company will accept pre-order for the product on April 10 and make it available in the United States and eight markets outside the country, including China, on April 24.

Apple executives announced a series of updates to some of the company's products and services at the Monday morning event.