The Apple S1P is the Apple S2's budget twin: the same new dual-core processor — roughly fifty percent faster than the original S1 — minus the GPS radio. It powered the Apple Watch Series 1, the $249 entry model Apple introduced alongside Series 2 in September 2016.
The S1P made the first-generation Watch's sluggishness a one-year problem: Series 1 owners got Series 2 performance at the entry price, and the model quietly anchored the low end of the lineup until the Series 3 price cuts retired it in 2018.