Update: The $890 luxury Montblanc Summit smartwatch is now on sale

Original post (3/16): Yet another major luxury product company has announced plans to launch a new Android Wear 2.0-based smartwatch later this year. Earlier this week, we got the news about the TAG Heuer Connected Modular 45 will be going on sale in the near future. Today, another high-end watchmaker, the Germany-based Montblanc, revealed its first smartwatch, the Summit. It will have a starting price tag of $890, which is much cheaper than the $1,650 cost for the new TAG Heuer product.

The Montblanc Summit will have a 1.39-inch 400 x 400 AMOLED display, and inside there will be a Qualcomm Snapdragon Wear 2100 chip, along with 512MB of RAM and 4GB of on-board storage. It will be certified for an IP68 water resistance rating, too. It will have a number of built-in features like a heart rate monitor, microphone and barometer. However, like most smartwatches, the Summit will only have about a day of battery life when fully charged. It also won’t have features that many smartwatch owners might require, like an NFC chip (which means no Android Pay) no support for cellular connections and no GPS.

So why get the Montblanc Summit? Because the company hopes you want to wear a smartwatch with a lot of style. It will include digital versions of classic Montblanc watch faces along with a digital watch timer so you can get on your private jet and know what the local time is wherever you go. Also, the watch will come in several different versions, including one with a case made in stainless steel and another in a titanium case, with a price starting at a higher level of $980. You can also get the Summit with different higher end straps like alligator that will push that price up even higher.

If you want to get the Montblanc Summit, you will have to wait a little while longer; it won’t go on sale until May in the US and UK. It will expand to other parts of the world by the end of July.