Apple discontinued last year’s Apple Watch Series 4 after announcing its brand-new watch — here’s how to decide between the Series 3 and Series 5 (AAPL)

Apple is about to launch a new version of the Apple Watch on September 20 that features an always-on display and a built-in compass, among other improvements. That means it's doing away with last year's model, the Series 4, which introduced a new design with a larger screen and, for the first time, the ability to take electrocardiogram readings.

Although you can't buy the Series 4 through Apple anymore, the company will continue to sell the 2017-era Apple Watch Series 3. While that version may run on an older processor and doesn't have modern features like electrocardiogram detection, it does offer many must-have smartwatch features at a significantly lower price.

That begs the question of whether it's worth splurging on the new Series 5 or saving some money by opting for the older Series 3.

Here's a look at the biggest differences between the two watches and how to decide which one is right for you.

Read more: The iPhone 11 proves Apple learned an important lesson after last year's iPhone launch — most people don't want to pay $1,000 for a new phone

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