|Apple new 'iWatch' (not its official name) will sport multiple screen sizes and designs, the report indicates.|
An October launch is being cited - which is in line with Apple's usual September release timeline.
The new smart watches will feature sensors to measure heart rate, pulse and steps taken, Reuters
reports. Apple expects to ship 50 million smart watches in the first 12 months.
Taiwan-based Quanta Computer which currently builds the Mac and iPods, is believed to be involved in the manufacturing of the device.
The watch-face will arch slightly and has a 2.5 inch touchscreen made by LG, say sources. It will also be able to charge wirelessly.
But it will be up against stiff competition from Samsung, FitBit and Jawbone who have all made inroads into the wearable tech category.
Samsung Gear range is currently one of the most popular devices on the market, includes smart bands and watches.
Deloitte predicts 10 million fitness bands, watches and smart glasses, are likely to be sold 2014, worth $3 billion.