The watch, which is expected to be round and come in both mens and womens sizes, will help track user's health.
It is claimed Apple will produce upto 5 million of the gadgets per month.
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According top Nikkei, the watch will run a
version of Apple's iOS software currently found on the iPad and iPhone,
and will be revealed in October.
IWATCH HISTORY
Speculation
around Apple's iWatch began at the end of 2012 and a rumoured release
date was initially set for the fourth quarter of 2013.
Chinese websites reported in December 2012 that the computer giant was working with chip-maker Intel on a wrist-worn gadget.
It was said to have a 1.5inch screen and use Bluetooth to communicate with other devices, including an iPhone.
Other rumours suggest the iWatch will feature Siri voice controls that let users dictate messages, rather than use the tiny screen.
The watch could also be used as a remote control to change music tracks or pause video, on the phone or tablet.
In July last year, reports in the Financial Times said Apple was hiring outside help to tackle design problems with its iWatch.
Chinese websites reported in December 2012 that the computer giant was working with chip-maker Intel on a wrist-worn gadget.
It was said to have a 1.5inch screen and use Bluetooth to communicate with other devices, including an iPhone.
Other rumours suggest the iWatch will feature Siri voice controls that let users dictate messages, rather than use the tiny screen.
The watch could also be used as a remote control to change music tracks or pause video, on the phone or tablet.
In July last year, reports in the Financial Times said Apple was hiring outside help to tackle design problems with its iWatch.
'People familiar with Apple’s plans tell Code/red the company hopes to schedule a special event that month to show off the device, which is designed to make good use of the HealthKit health and fitness information-gathering app it recently showed off at WWDC.'
Nikkei claims the same date, and its sources say that Apple is so confident in the gadget that it’s looking to produce three million to five million units per month.
Apple VP Eddy Cue’s recently hinted at the launch, saying: 'Later this year, we’ve got the best product pipeline that I’ve seen in my 25 years at Apple.'
According top Nikkei, the watch will run a version of Apple's iOS software currently found on the iPad and iPhone.
'The new watch-like wearable gear will run on this OS, which will be equipped with a centralized function to manage users' biometric information via smartphones,' it said.
During a trip to Taiwan, a New York tech analyst recently said an Apple supplier revealed a number of features of the much-rumoured device, including a rounded face and slim design.
This would resemble how the Moto 360 looks - and contradicts previous reports the watch would have a curved, or square screen.
New York analyst Brian Blair claims an Apple
supplier has revealed the iWatch will have a rounded face, similar to
the Moto 360, pictured, come in male and female versions, and will go
into production in July. Previous reports suggested it would have a
curved, or square screen like the G Watch and Samsung's Gear range
According to his supply chain sources, the iWatch will be designed to look like a traditional watch, and move away from the chunky, square look of the G Watch and Samsung’s Gear range.
Motorola announced its own plans for a round, Android-powered smartwatch earlier this year and Blair's sources claim Apple’s version will be almost identical, if not a little thinner.
As Business Insider noted, Apple’s icons have rounded edges and this would suit a circular face.
Blair’s source also confirmed previous rumours that the iWatch would be available in ‘his’ and ‘hers’ models, and will go into production from July.
The design is similar to concepts created by Mark Bell from Belmdesigns.
Bell’s concept incorporates the rumoured Healthbook fitness features that leaked in March, but experts believe Apple could additionally be working on a separate wristband specifically designed to track health.
By comparison, the LG G Watch, pictured, has a
square, 2-inch display and runs Android Wear - a streamlined version of
Google's current operating system seen on phones and tablet. The Samsung
range of Gear devices similarly chose a square, rather than rounded
design
The Moto 360, pictured, is expected to launch at Google's I/O in June, followed by the iWatch in September
Earlier this week, during the unveiling of its latest G3 handset, LG gave a sneak peek of its square Android-powered G Watch.
All three - the Moto 360, the G Watch and the iWatch - are expected to launch later this year.
It’s likely the Moto 360 will be announced at Google’s I/O in June, and go on sale for £180 in July, followed by the iWatch during Apple’s annual September event.
Price-wise, an Apple iWatch may follow the same pattern as Apple’s handsets and sit at the top end of the market.
Reports last month even stated it could cost ‘thousands’ of dollars.
Although the smartwatches of Samsung and Sony haven’t been as popular as analysts predicted, Blair said orders for the iWatch are surpassing expectation and he forecasts 18 to 21 million iWatches will be sold before Christmas.
Last night, Samsung revealed a new smart wristband and announced plans to let manufacturers use the same core components - much like the mobile phone market.
It
also revealed an online service to track the data - just days before
Apple is expected to reveal its 'Healthbook' app for the iPhone.
Samsung
presented its vision for wearable devices at a San Francisco event ahead
of next week's developers conference by rival Apple.
The new claims about a rounded design contradict
previous reports the iWatch would have a curved screen, as seen in this
concept by Todd Hamilton
Bell's concept, pictured, incorporates the
rumoured Healthbook fitness features that leaked in March, but experts
claim Apple could additionally be working on a separate wristband
specifically designed to track health
There
is widespread speculation Apple has been working on wearable
devices, and its products tend to use proprietary technologies. However,
an open system would be a departure for Samsung as well.
Its Gear wristwatches and fitness devices currently work only with Samsung phones.
Smartwatches from Sony and other manufacturers tend to work with a wider range of Android phones.
Last night, Samsung revealed a new smart
wristband and announced plans to let manufacturers use the same core
components - much like the mobile phone market. Ram Fish, Vice President
of Digital Health for Samsung is pictured displaying the Simband
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