New Apple iWatch and Budget iPhone: This Could Be the Best Release Yet

On September 10, Apple is going to release its next round of products at a big event in Cupertino. The best case scenario in my own opinion would be releasing a new Apple iWatch and budget iPhone, but will it happen?

The short answer, is likely yes to the latter and no to the former, unfortunately. The only "new product" we're likely to see is the budget iPhone, and while it could open new markets, it's also a mark on the glossy brand that Apple has built. Releasing an iWatch at the same time could not only help to minimize that, but also be an offering to the higher-end market.

A new iWatch would take advantage of something Apple does well (restructure its core product to fit different needs) and start a line for all those Apple heads that have to have the latest. Based on images floating around, it looks like ... well, a miniature phone strapped to your wrist. But when Apple's marketing team is done with it, you can bet every Apple-phile will want one.

The "new product," this one much more likely to be unveiled on Tuesday, is a budget iPhone. The downside of it is it may undercut the original iPhone's brand. The upside, is it could be a boon to Apple's performance in developing economies like India, which is a critical battleground where Microsoft and Nokia are also trying to make a big play.

Either way, Apple has my curiosity piqued. You can follow along for live updates on the event here, which starts at 1 p.m. EST.