The Apple Watch SE not only replaces the Series 3 as the cheapest option, it's also far superior

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• The new second-generation Apple Watch SE replaces the Series 3 as the least expensive Apple Watch you can buy.
• The SE has a processor upgrade and adds a crash-detection sensor.
• It's $50 more than the discontinued Series 3, but it's a much better Apple Watch.

Apple announced three new Apple Watch models on September 7: Series 8 (starts at $399), the Ultra (starts at $799), and second-generation SE (starts at $249).

Previously, the first-generation SE served as the midrange Apple Watch option. Now that Apple has finally discontinued the five-year-old Series 3 as the entry-level model, the new SE takes that budget spot.

Although it's now the least-expensive Apple Watch you can buy, unlike the Series 3, which became long in the tooth as it aged, the new SE has some of the latest tech and is nearly on-par with the Series 8. This makes the SE a much better entry-level option than the Series 3 was.  

The new Apple Watch SE is nearly identical to the first-generation in appearance, but lots has changed under the hood.

Except for a new back case made of a nylon composite material, the second-generation Apple Watch SE looks identical to the first-gen model. The new SE has a larger 40mm or 44mm screen than the Series 3, as well as narrower borders for a sleeker look. But it's not quite as elegant as the Series 8, which has even thinner borders.

Among the major upgrades is Apple's S8 smartwatch processor — the same as in the Apple Watch Series 8 and the Ultra. Unlike the Series 3 that used an old processor, the S8 will ensure the SE runs smoothly for years to come.

Fitness tracking and health sensors are the same as the original SE. It includes GPS and Apple's second-generation optical heart sensor for high and low heart rate notifications, as well as irregular heart rhythm notifications. What it lacks that Series 8 has is a temperature sensor, which enables period and ovulation tracking.

Apple did include its new Crash Detection feature in all the new watches, which uses a new accelerometer and gyroscope sensors to automatically call emergency services if it detects you've been in a vehicle crash.

Another big upgrade is the 32GB of built-in storage for apps and music, which is a big improvement over the Series 3's paltry 8GB storage. 

We're disappointed to see the omission of some key features, like an always-on display, nor does it support Apple's new Low Power mode that extends the Series 8's battery life from 18 hours to 36. 

However, the new SE is designed to be affordable, and it can't get all the features as the flagship Series 8.  

The SE costs a little more than the Series 3, but it's a much better smartwatch

The second-generation Apple Watch SE is $50 more expensive than the Series 3, but it's still affordable for a smartwatch, especially one that's rich in features. Plus, the premium is well justified considering the new SE's sleeker design, better performance, extra storage, and new features.

In fact, we weren't even recommending the Series 3 when it was available, and we were pointing readers toward the original $279 SE instead. In our minds, the Series 3 should have been replaced long ago, as its performance declined and it didn't support the newest features. 

With all that in mind, the new SE's $50 premium over the Series 3 is still a better value than the original SE's $80 premium.