We have reported before on the Apple iWatch and even though it has yet to be confirmed by Apple, the rumours keep persisting. A new Bloomberg report would suggest that the Apple ‘iWatch' is expected to release this year. Apple are also said to be working with flexible, curved glass.

The report mentions that 100 engineers are behind the development. The interesting part of the report however is that Apple key designer Jonathan Ive has taken the product onboard, as a pet project. Apparently Ive has a fetish for high end, expensive Swiss watches so he is the ideal man for the job.

The report would suggest that the iWatch may be a very profitable part of their business, earning the company more than the television sector.

Analyst Oliver Chen from Citigroup Inc said “The global watch industry will generate more than $60 billion in sales in 2013. While that's smaller than the pool of revenue that comes from TVs, gross margins on watches are about 60 percent.” That is around four times larger than the television sector.

Bloomberg noted that Apple have filed for 79 patents that contain the word ‘wrist' in them, including one recently for a ‘wearable accessory device' that can display video. The iWatch is apparently in product as a supplement for the iPhone and iPad, able to display alerts and messages and can even make calls, caller ID and an integrated pedometer for counting steps and monitoring health data. Other reports say that the device could be used to make payments with Apple's Passbook payment software.

The Verge has reported that Apple will be using a full version of iOS on the iWatch rather than a stripped down operating system associated with the iPod Nano. The site also add that sources claim ‘battery life issues in development'.” The prototypes are only delivering battery life of 2 days max, and Apple want 4-5 days before its next charge.

They also said “Apple has some work to do with iOS on the iPhone, which currently has several hooks for supporting a watch-like device but lacks the appropriate interface or settings to make it work properly.”

Kitguru says: A future hot seller for Apple?

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