Fitbit has finally entered the smartwatch business.

After quite some time of speculation and rumors, the brand has unveiled what it considers to be "the best health and fitness" watch on the market: the Fitbit Ionic.

While the wearables company has dabbled in the field before with the Charge and the Blaze, this is its first attempt at a full-featured smartwatch—and it's hoping to be direct competitors of the widely popular Apple Watch.

The first thing you'll notice about the Ionic is its unique visual design: Instead of going for a classic watch look, Fitbit has opted for a sleek, clean rectangular watch face that's definitely unique.

Beyond the exterior, you'll find the usual smartwatch tech, including: heart rate sensors, sleep tracking, and a built-in GPS. Additionally, the Ionic will include personal coaching, a credit card reader app called Fitbit Pay (think Apple Pay), and its own app store with popular software such as Strava and Pandora.

The Ionic will go on sale for $299.95 sometime this October, Fitbit said in a press release. That's slightly more expensive than the $269 Apple Watch—but still in line with smartwatches of a similar ilk.

It's clear that Fitbit has a lot of confidence in the Ionic, and time will tell if its hard work pays off.