Pebble has revealed that the company has sold over a million smartwatches. As it continues to ride high on the success of the wearables, Pebble is gearing up to release a new smartwatch that will challenge the impending Apple Watch and is nothing like the existing smartwatches that are available.

On Monday, Feb. 2, Pebble's founder and CEO Eric Migicovsky revealed the achievement of the milestone to The Verge in an interview. The landmark figure was achieved by the company on Dec. 31, 2014. Pebble's smartwatches hitting the coveted 1 million sales figures is quite an achievement considering the company had sold 400,000 units by March 2014.

What may have boosted the sales of the smartwatches is the price cut by Pebble. In September 2014, Pebble reduced the price of its basic watch from $150 to $99. The Pebble Steel edition also saw a price cut from $250 to $200. Moreover, the company also added a gamut of new features to both the models, including background fitness tracking and fitness apps such as Jawbone.

Pebble's smartwatches have continued to gain popularity with consumers post its record-breaking Kickstarter campaign in 2012 where it raised $7 million in a week. Despite competition from Samsung, Motorola, LG and Sony who have all introduced Android Wear-equipped smartwatches, Pebble continues to reinvent its strategies to stay ahead of rivals.

With Apple also expected to unveil its smartwatch in April this year, Pebble is prepared to take the competition head on. Migicovsky has revealed that Pebble not only has new products in the pipeline, it is also looking at launching a new software platform for its wearables. While Migicovsky did not divulge what's in store for consumers, he hinted that the new platform would make the Pebble watches distinctive.

"We've found a new framework to use as an interaction model on the watch," said Migicovsky. "It doesn't look like what we have today, and it doesn't look like what's on your smartphone."

The founder also revealed that the apps which are currently found on Pebble watches will not be the primary focus.

However, with Migicovsky not giving an exact date for the launch of the new Pebble watches and revealing "later this year," fans will simply have to wait a little longer.