(Pocket-lint) - Apple is now holding its spring event in California - where it just announced a new price for the Apple Watch along with fresh accessories for the year-old wrist wearable.

Starting with the new watch accessories, Apple said it is coming out with a new band called a "woven nylon band". It features a four-layer construction and will launch in a variety of vibrant colours, according to CEO Tim Cook, who took the event stage to discuss the band. He also said Apple Watch would soon get "new sport and leather bands in all new colours" as well as a "stunning space black Milanese loop" band.

A few of these upcoming bands could be seen in a image shown on the screen behind Cook (as seen above). The chief executive said we could expect these bands to become available this spring, though he neglected to mention how much they would cost. The current 38mm Milanese loop costs $149, so we're expecting the new black version to cost at least that much. But nothing has been confirmed as of yet.

And finally, Apple announced the Apple Watch now starts at $299. Prior to this price drop, you could buy the Apple Watch Sport edition starting at $349. We're assuming this price change will be effective as soon as the Apple Store goes back online after the event concludes.

Stay tuned to Pocket-lint's Apple hub for more breaking news from the event, or tune into the live-stream here to watch the action unfold yourself.

Writing by Elyse Betters.