Two takes on the reason for luxury from Apple

Horace Dediu:

This is the unique value of Apple’s brand: among technological brands it can stretch to cover the perception of value for design, materials, craftsmanship and prestige. At the same time it offers new experiences and introduces new products for new jobs to be done.

And Benedict Evans:

Apple retail is a self-funding marketing operation. So too, perhaps, is the gold watch.

... though other companies are already making metal smart watches, I struggle to imagine Samsung making solid gold watches. Apple's brand might or might not work there, but no other CE company's does. That is, if this is marketing, and if it works, it's marketing that no-one else can do.