Apple is known mostly for its innovative products like the iPhone or the iPod. This time, Apple is focusing on wearable technology, and like most of its trademarks it will be aptly begin with its signature letter, resulting in the iWatch.

Samsung and Google have already unveiled its line of wearable devices like the Google Glass and the Samsung Galaxy Gear. Apple has also begun their own line of wearable gadgets, in the form of the iWatch.

The development for this has been going on for a few years now, but Apple has not officially announced a definite release date for the iWatch. There are rumors that they are planning to release it in time for the holiday season.

There is no official announcement for what the iWatch will cost when it is released, but it is sure to be expensive.

So far, all that is known for sure, is that the iWatch will be able to sync up with other Apple products, such as the iPhone or iPad. Also, the device, much like the Samsung Galaxy Gear, will focus on the health aspect of the wearer, with apps like a pedometer app and a heart rate monitor.

It is still uncertain what shape or form the iWatch will take when Apple unveils it. Some speculate that it will take on the traditional look of a watch, except that it will have an LCD/LED touch-screen. Others see the iWatch taking the form of a wristband, with a flexible LED display.

There are even rumors of Apple and Nike doing a collaboration work to bring some kind of FuelBand-iWatch combination, specifically and exclusively geared for fitness. Until Apple releases an official statement however, this will all remain as rumor.