After the Apple Watch came out, I wondered how this would affect Pebble, the company. Turns out, instead of folding, they have plans to evolve and grow. For evidence of this, check out their latest watch (in the photo, as well as here: Pebble Smartwatch | Smartwatch for iPhone & Android). They seem to be aiming to finding a market for those wanting some of the features of the Apple Watch without all the functionality (or cost).
With the watch above, you can see them adopting higher end materials and also getting thinner (and round). It is more expensive than the original Pebble, but likely better quality. And still much cheaper than Apple Watch.
I have a Pebble and I really like it. It does what I want, which is send me notifications without having to get out my phone, which is great in meetings, at events, or driving (carefully). And you can even easily write code for it. Finally, it is a great watch that needs to be rarely charged.
Needless to say, the Apple Watch is a great product. Depending on your needs, it could be a better choice than the Pebble. But the Pebble is a good product too, and I think there is a place in the market for a range of watch makers. Get one that suits your needs. With the Pebble, now you have more choice.