The hottest gadgets at Mobile World Congress 2015

Pebble stormed into the public eye in 2012 when the company raised over $10 million on Kickstarter to finance its first smartwatch.

Now it's back again with the updated Pebble Time. It's already raised nearly $12 million on the crowd-funding site for this timepiece.

Although it isn't as beautiful or sleek as the Huawei Watch or the LG Watch Urbane, it does present a cheap and very functional alternative.

The new hardware, which is thinner and lighter than previous models, features a color e-ink display -- like Amazon (AMZN)'s Kindle -- with a battery that lasts for seven days. The company has also re-engineered the software so you receive fewer, but more pertinent, notifications from your smartphone.

Due out in June -- or May if you've pre-ordered -- this device is likely to be hugely popular with people who want a very clever watch on their wrists.