The long-awaited Apple Watch is getting an official showcase today in anticipation of the device’s expected April rollout, and The New York Times says in a preview of the event that the starting price for the watch will be $350.

“Apple has not yet said how much people will have to pay for higher-end models, like the Apple Watch Edition, which is made of 18-karat gold,” The Times reports, noting that additional details on pricing are expected at today’s Apple event in San Francisco.

The report says the Apple Watch, described as a companion for the iPhone, is “a miniature computer worn around a person’s wrist, with a touch screen and a so-called digital crown for navigating the device. There are three models, to be sold at different prices, and interchangeable watch straps.”

Apple introduced the watch back in September, touting a number of apps with fitness applications. But the company has reportedly scaled back those functions over the past months.

“Apple has highlighted the crown as its latest signature innovation for controlling a device, similar to the mouse pointer for the personal computer, the click wheel on the iPod and the touch screen for the iPhone,” The Times reports. “On the Apple Watch, the crown can be twisted to zoom in or out of the screen or to scroll through a list.”

The report also notes: “The watch requires a newer iPhone to fully operate, partly because the iPhone will hold the third-party apps that run on the device.”

The first wave of smartwatches, from Samsung, Motorola and LG, among others, has been greeted with disappointing sales, the report notes.

“But Apple has been in this situation before,” The Times adds. “Most consumers didn’t care about computer tablets before Apple released the iPad, nor did they generally think about buying smartphones before the release of the iPhone. In both cases, the company overcame initial skepticism.”