The device will reportedly be able to monitor a host of health-related data and will feature a curved screen.
At least that's what Japanese newspaper Nikkei is claiming in an article published on Friday. It says that according to parts manufacturers, Apple is confident the iWatch is going to be a big hit and is planning to produce 3.5 million models a month once it goes on sale.
Rumours about an iWatch are not exactly hard to come by, but there are two reasons why Nikkei's report is worth further consideration.
The first is that it has a good track record when it comes to correctly naming release dates for new Apple devices. And the second is that the publication's claims regarding potential features closely align with earlier reports from other robust sources such as the Wall Street Journal.
Therefore expect a watch with a curved OLED display that can display smartphone notifications, such as incoming calls and text messages but also be prepared to be disappointed if you're looking forward to an intelligent timepiece with sufficient smarts to replace a smartphone altogether.
Instead, this is a gadget designed to put consumers firmly in control of their health, fitness and well-being. It will be able to monitor sleep activity, calories consumed, blood glucose and oxygen levels and of course heart-rate.
And, as demonstrations of new software features at this week's Apple WWDC revealed, it will also be able to integrate with healthcare organizations' systems to enable communication and data sharing with doctors and physicians.
Nikkei's report also suggests that one of the reasons that Nike is pulling out of the wearables market is because of the upcoming device. Instead of continuing to build FuelBands, the device's functionality will be integrated into the iWatch, as will Nike's suite of fitness apps.