A few months ago, Apple Inc. CEO Tim Cook talked about the potential wearable technology has on the mobile market after being asked what he thinks of Google's popular new augmented reality eye kit, the Google Glass. Since that time, thanks to some rumors and leaked information out of Apple, speculation has been running wild about Apple creating a wrist accessory that will accomplish a lot of the same functions as an iPhone or iPad.
Apple has even gone as far as to patent the name "iWatch" in a few countries. However, there hasn't been any official word from the company to confess that it is working on a smartwatch or any wearable technology. The reason the wrist is everyone's go-to place for a wearable accessory is because Tim Cook sports a Nike Fuel Band and has been on the company's board of directors since 2005.
Since that time, Apple has reportedly assembled a team of about 100 product designers working on a smartwatch, according to Bloomberg. It recently hired former Yves St. Laurent CEO, Paul Deneve as a vice president in charge of extremely vague "special projects." Many speculate that Apple is bringing in the fashion mind to help make sure their newest device isn't bulky and unattractive. Apple has a history of making its devices sleek and attractive to appeal to modern users of all ages. It's possible that's where Deneve will come in.
Cook has pointed out in interviews that one of the tricks to wearable technology is getting people to like a device so much, and have it do so much for them, that they actually want to wear it. He also added that young people don't really like to wear watches.
According to CNET, Tim Cook is reportedly under pressure from shareholders who have seen the company's stock drop more than 30 percent since a September high amid sowing sales growth and competition from rivals at Samsung, who recently dethroned Apple Inc. in a user satisfaction survey. Rumor has it, the company needs a new device that it can charge a higher price for in order to generate some real revenue and take some of the pressure off from investors.
Currently the iWatch is just a rumor with no concrete specs or release date. However, there are a lot of devices expected to come out from Apple later this year. Any press event could be perfect to debut an iWatch when it becomes ready.
