Apple reportedly testing iWatch

Apple is again being tipped with the development of a smart watch, with the New York Times the latest to report that an 'iWatch' project is part of the Cupertino-based firm's ongoing plans.

Citing "people familiar with the company's explorations," the Times claims that Apple is currently "experimenting" with watch-like devices running a stripped down version of its iOS platform.

The report tips the iWatch to feature Corning's flexible Willow Glass to help it wrap around the user's wrist, with navigation, contactless payments and communications thought to be among the future contraption's uses.

"You can certainly make it wrap around a cylindrical object and that could be someone's wrist. Right now, if I tried to make something that looked like a watch, that could be done using this flexible glass," noted Pete Bocko, Corning's chief technology officer.

In addition to the Times, the Wall Street Journal has also jumped on the iWatch bandwagon, saying that Apple is currently discussing production scenarios with Chinese manufacturing partner Foxconn.

An Apple iWatch was rumoured back in December 2012, with speculation pointing to a Bluetooth-enabled device with a 1.5in touchscreen display and Siri functionality.

Goodbye Apple iPhone? Wearable Tech Is Coming

Your smartphone may be on its way out as tech companies aim to put the power of a smartphone into wearable accessories.

Three of the biggest tech companies are gearing up for a head-to-head battle that will dictate how we wear — yes, wear — future technology.

Apple, Google and Samsung are all entering the wearable technology space. The companies are reportedly working on a smartwatch. Plus, Google is already pushing to bring its Internet-connected glasses, called Google Glass, to market.

"This is just the start of where wearable technology is going," said Carolina Milanesi, an analyst for Gartner. "Eventually, smart fabrics, which will be the clothes you wear, will also come to market. But that's years away."

Wearable technology is poised to explode during the next few years, with 485 million wearable devices projected to ship by 2018, according to ABI Research.

Google augmented reality glasses, which are controlled through voice commands, are expected to become available to the mass market as soon as later this year, or during the beginning of 2014, analysts say.

Samsung Smartwatch

While Apple and Google have not officially said they're working on a smartwatch, Samsung recently revealed that it has been working on a watch for awhile.

"We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them," Lee Young Hee, executive vice president of Samsung's mobile business, said earlier this month, according to a Bloomberg report.

The executive did not, however, reveal any details about what kind of features the watch would have, or when it would go on sale. But ABI Research analyst Josh Flood said he could see Samsung launch a watch before the end of this year.

"I wouldn't be surprised if they can do something relatively quickly," Flood said. "They could easily bring something to market in a short period of time."

It's unclear, however, if Samsung would rely on Google's Android operating system, he said.

Apple Product Watch

An Apple smartwatch — dubbed the iWatch — could also be revealed sooner than some consumers anticipate. "For Apple, it might make sense to unveil a watch between now and October. A summer release might make sense," Milanesi said.

An iWatch would likely include some of the same functions as a smartphone, as well as additional features — such as near field communication technology, which would enable payments, Milanesi said. She said the device will have a touchscreen, but it will likely be more voice activated.

Piper Jaffray analyst Gene Munster recently said in note to clients that Apple is likely to make a product announcement in June. However, this is likely to be the next generation iPhone. More innovative products — possibly an iWatch —won't be unveiled until the end of the year, he said.

(Read More: Innovation Key for Investors to Bite Into Apple Again)

While smartwatches may make an appearance in a big way this year, it will likely be three to four years before the watches completely replace smartphoneS, said Flood of ABI Research. In the interim, the watches will function mostly as an accessory to a user's smartphone, he said.

Apple iWatch likely to launch in second half of year, says analyst

Consumers eyeing an Apple iWatch could see one on their wrist sometime in the second half of the year.

Apple is expected to give the signal to the supply chain this month to start cooking up components for the much-rumored iWatch, says Citi's Glen Yeung. With parts suppliers ready to kick off production, the analyst sees a second-half launch as "increasingly likely" for Apple's high-tech watch.

"We believe iWatch is in a greater state of readiness, with the supply chain now waiting for the production go-ahead from Apple," Yeung said in an investors note released today. "We suspect the go/no-go decision will be made in June and are leaning toward a 'go' outcome at this time."

Reports have surfaced over the past few months that Apple would come out with a smartwatch. Apple naturally has been silent on the subject. But some recent tidbits suggest that an iWatch may be on the way.

Apple reportedly has filed for a trademark on the "iWatch" brand in Russia. Taiwanese news source Economic Times recently said that Apple has been checking out 1.5-inch OLED screens for a smartwatch. And a story from Bloomberg said that the iWatch is slated to roll out as soon as this year.

Google Glass predicted to be ‘the next iPhone’

A new report suggests that Google’s wearable computing device could become “the next iPhone.” Sarah Rotman Epps, a senior analyst with Forrester Research, believes that Google Glass shows enough promise that “it’s just a matter of time” until the device takes over the world. But she noted that the current version of Glass is “more of a Newton than an iPhone,” citing concerns with battery life and limited app development. While Glass’s current functionality may be limited, the analyst believes that in time it will become the next great platform.

Epps revealed that 21.6 million online consumers in the U.S., roughly 12% of the population, are interested in wearing Google Glass-like products from a trusted company. Consumers who are most interested in wearable technology tend to be younger and more technologically savvy individuals. The analyst noted that other early adopters may include professionals who need hands-free devices for work, such as doctors, construction workers and farmers.

Google Glass is currently being beta tested by a small group of people and is expected to be released to the general public in 2014.

What would Totoro look like with Google Glasses?