We reported last week that Pebble had been counting down to something mysterious on its website. It was later rumored that the company might unveil a second generation smartwatch with a color display. Today Pebble finally made the announcement as the countdown timer reached zero. Introducing the Pebble Time, the company’s second generation smartwatch with a color display, which like its predecessor is debuting on Kickstarter.

Pebble is a company that gained worldwide popularity following its successful crowdfunding campaign on Kickstart about two years ago. The first smartwatch was produced with money raised through crowdfunding and Pebble is taking the same route with the Pebble Time.

The Pebble Time has a color e-paper display and a microphone, these are the biggest hardware changes made in the second generation smartwatch, apart from a major software overhaul. Like its predecessor the Pebble Time has a non-touchscreen display with three buttons. The smartwatch is protected by a waterproof case.

Pebble’s new smartwatch comes in at just 9.5mm thick making it quite thin when compared to the first generation model. The company is offering it in black, white with black trim and black with read trim. Matching bands will be provided, users will be able to remove the bands, and swap them for any other 22mm band.

Features that were much loved in the original model, like POGO pin charging and the vibration motor have been retained in Pebble Time. The company says that its new smartwatch will go for a full week on a single charge display its color e-paper display.

You don’t have to worry about Pebble not meeting its goal on Kickstarter. The company was only asking for $500,000. Keeping in mind that the project went live today, as of this writing over $3 million have been raised with 31 days still to go. Safe to say this smartwatch is getting produced.

The least you can pledge right now is $179 to get one Pebble Time in any of the three colors. Delivery is estimated for May 2015.

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