Beyond the obvious of making the device thinner, independent from iPhone, etc., I wonder if there will be a tier below Sport, perhaps an all-polycarbonate or even "fluoroelastomer" (i.e., rubber) case. Beyond the presumably cheaper cost of materials and construction, the more plasticky material could give permission to be a little thicker than then-contemporary watches (and so reduce costs again).
If this plasticky direction were taken, Swatch would be in some serious trouble.
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