According to sources familiar with the matter, Apple will enter the smartwatch market, after months of speculation surrounding the device once the Cupertino-based company trademarked the iWatch name last year. Apple has reportedly hired over a 100 people -- designers, fashion, and health and engineering experts -- to work on the various functions of the smartwatch.
The device may have around 10 sensors, with a few dedicated for health and fitness purposes, which makes sense considering Apple showed interest in health and fitness tracking app called Health. According to MacRumors, Apple may have developed a sensor for sweat analysis and other sensors that will monitor various environmental elements as well.
The smartwatch will apparently come in multiple screen sizes with news sources speculating on models spanning anywhere between 1.3 inches to 2.5 inches diagonally.
The 'iWatch' will be developed by Quanta Computers, a Taiwanese manufacturer that builds Apple's Mac computers. The company could build between 10 million and 15 million units by the end of this year.
Apple CEO Tim Cook said that the company would break into new product categories by the end of this year. This will be the company's first big product release since the release of the iPad four years ago.
Notable deaths of 2014 [PHOTOS]