iWatch release date: Apple testing smart watch

(Rendition by ADR Studios)

The release date for the Apple's iWatch may come as late as 2014 but rumors this week indicate that the tech giant is experimenting with a device that is rumored to have smartphone capabilities and run on the tech giant's iOS operating system.

According to the New York Times, iWatch will be a curved-glass device, featuring bendable display glass that will allow the user to wear it around his wrist. Apple is currently testing the smart watch device, which will reportedly offer a mobile payment system using Apple's Passport software.

The same company behind the iPhone , iPad, and iPod has discussed the design of iWatch with manufacturing partner Hon Hair Precision Industry, also known as Foxconn, which has been working on technologies that could be used in wearable devices, the Wall Street Journal reported.

Macworld says the iWatch would feature a 1.5 OLED display with ITO-coated glass from RiTdisplay. Using Near Field Communications technology, the device could be used as a passcode alternative, enabling the wearer to use the smart watch and open other Apple devices.

Analysts say that technology is moving toward more portable devices.

The latest innovation from Apple comes as a number of technology companies have unveiled their own take of smart watches. Earlier this year, Toshiba launched a personal smart watch at the Consumer Electronics Show 2013 that was able to run on an iOS or Andriod operating system.

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