It has been a while since Motorola showed off its new smartwatch, the Moto 360. The Lenovo-owned company has kept most of the details about this smartwatch under wraps until now. What we’re most impatient to find out is how much this beautifully designed wearable device will cost. Motorola today released a document containing rules for an upcoming watch-face design contest and it may have revealed how much the Moto 360 price in U.S. is going to be.

Even though the smartwatch hasn’t exactly been seen in action yet it has been praised quite a bit for its beautiful design. It has a round dial that’s much more similar to conventional wrist watches. While this design might cause production problems it appears that Motorola has found to way a cram all the essential components inside.

Motorola is offering a grand prize of the Moto 360 smartwatch in the contest. The winner will get their unit after Motorola officially launches it. The Moto 360’s approximate retail value is defined as $249 in the official rules document. It may not be a slip-up from the company, most likely it had to make this information public due to legal reasons.

Smartwatches are generally priced within this range, below $300 that is. $249 will certainly be a great deal for a smartwatch and given Motorola’s experience of making things happen with low-cost components, there’s little doubt that the company will find it hard to achieve this price point.

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