Ahh, memory LCD displays. The best way to make a smartwatch. Pebble always had a real knack for making a great product regardless of specs, but here's what they say is inside:

An M4 ARM Cortex processor clocked at 100 MHz

1.26 inches of low-power, black & white, memory LCD goodness behind Corning Gorilla Glass

Bluetooth 4.1 (an upgrade from the previous generation's 4.0)

A lithium-ion battery big enough to power all this for 7-10 days (depending on whether you sprung for the heart rate model—we didn't)