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The Series 3 has a much slower CPU. As in slower than it needs to be run the UI. The "SE" is a Series 5 (CPU wise) and much better value.
If you're not expecting the giftee to interact with it very much (i.e. just use notifications and Apple Pay) it might be ok.
New Apple stuff is rarely sold for less than RRP.
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I have a series 3 (my third) and it’s good for what i use it for - fitness tracking and telling the time. Also, changing music tracks. If I was buying one for my wife, it would be a 3 as it’s cheaper and works. I can’t comment about the newer versions.
You can raise the cost with stainless or a fancy strap but mine is standard cheapest one.
Be warned - they don’t like being dropped on tiled floors or banged heavily against a door. (Hence I’m on my third one) -
The current SE is a rebadged 5 without ecg. The thing with ecg is that after the novelty wears off you will never use it. I have a 2, 5 and 7. There is no major difference between 5 and 7, my reason for getting the 7 is that the 5 battery was running down and would go into power reserve if I had a fairly active day of biking, canoeing etc.
having two is a game changer as I can wear the 5 as a sleep tracker and for any sports where I risk smashing it up and keep the 7 in better condition for longer.
They run the same OS and both do pay, music and all the notification and workout stuff that you actually need.
Various different Apple watches, is there any reason to go above the series 3 if you're not looking at cellular? Aside from the different hardware, what are the benefits of the more expensive ones (or is it all just hardware features that differentiate them)?
Do they tend to be on sale (given I'm looking at getting one for a christmas present) anywhere or just at the Apple price?
Cheers