Apple iWatch: Will it be the best wearable ever?

With the arrival of Apple's long-awaited first wearable looming large, "inside sources" are spilling new details on Cupertino's plans for the device that will undoubtably be called the iWatch.

Of course, nothing can be called "official" until Apple itself calls the press together to take the wraps off its smart watch, but these insiders are gaining credibility as we get further and further away from the Steve Jobs era of paranoia-level secrecy at Apple.

The Wall Street Journal reports Apple is planning to release several versions of the iWatch. It's unknown exactly how many versions are planned, but it's believed more than one screen size will be available. None of WSJ's sources were able to reveal specs because they're still being finalized.

"I expect Apple to launch multiple smart watches that come with different designs as watches are fashion accessories," said Ming-chi Kuo, an analyst at KGI Securities. "One design doesn't fill all."

One detail sources were willing to reveal is that the iWatch will pack more than 10 sensors under a sleek, sexy hood. Most of these sensors will be devoted to tracking health and fitness with functions that work in tandem with Apple's recently-announced iOS 8 app Health. The sensors could potentially do things like measure bodily functions such as heart rate, pulse, blood pressure, body temperature, and activity levels.

Other known details about the iWatch include its use of a 2.5-inch touchscreen display that will be manufactured by LG. The screen is expected to be a rounded rectangle (Steve Jobs' favorite shape) with a slight arch shape coming off the wrist. It's also expected to use wireless charging, and pair with the user's iPhone only for communications tasks like text messaging and voice chat.

Reuters reports Quanta Computer of Taiwan will be the exclusive manufacturer and is already engaging in trial production runs. Mass production is expected to begin in July 2014. Quanta is said to be excited about working on the new device, as its current work for Apple consists of laptops and iPods -- two product categories whose sales are slowing.

Samsung, Sony, and Google have already unveiled their own takes on the smart watch concept, but as has become the tech world's custom, they're waiting to see Apple's ultra-refined, intuitively-designed product. The designs of Apple's Jony Ive typically become the gold standard that entire product categories are measured by. Reports are confirming that in this case, as ever, Apple wants to redefine the smart watch concept by giving it functions that make it more than a "phone on your wrist."

One of WSJ's sources suggests Apple expects to ship 10 to 15 million iWatches by the end of 2014 and 50 million within its first year on the market. It will likely be announced and made available for purchase sometime in October 2014.

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