Good things come to those who wait.
And the Apple Watch Ultra 3, arriving not one but two years after its predecessor, looks to be a worthy update in all the right ways.

Bigger display, 5G and more battery
At face value, the key changes include 5G and 42 hours of battery life (up from 36 hours).
It also includes a slightly larger screen than the one on the Ultra 2 (although the case size is the exact same), while the display itself refreshes more frequently in always-on mode. That enables more dynamic watch faces with a ticking seconds hand, for example.
