iWatch? Apple working on an iOS smartwatch, report says

It’s time for an Apple smartwatch, according to the latest rumors surrounding the Cupertino tech giant.

A report by TGBus, a Chinese tech website, has kicked off rumors Apple might be planning to release a 1.5-inch OLED screen iOS watch.

The report, translated to English using Google Translate, says Apple is working with Intel on a Bluetooth watch that will work with the iPhone and is expected to come out in the first half of 2013.

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This, of course, is just a rumor that cites unnamed supply chain sources, so there’s a good chance this could turn out to be false. But there’s a few reasons why it could be true.

As CNET points out, Piper Jaffray Gene Muster has previously said he believes smartwatches might be a market Apple breaks into. The Next Web also highlights that consumers already expressed their interest in smartwatches by funding Pebble, a Kickstarter project with more than $10 million from nearly 70,000 backers this year.

Consumers also commonly used the sixth-generation iPod Nano as a watch, with many third parties making wristbands for the product.

But if the iWatch rumor is anything like the iTV rumor, it may stay a figment of our imagination.

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