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Apple is preparing to start production on a much-anticipated smartwatch device next month, reports Reuters.

While Apple has never confirmed the existence of a branded smartwatch (unofficially called the iWatch), many speculate that the company has actually been hard at work on the wearable device for quite a while. And now that competitors like Samsung and Sony have debuted their own smartwatches, it seems likely that Apple will be next.

Apple has allegedly tapped Taiwan-based Quanta Computer Inc. as its production partner for the smartwatch, and plans to start assembling the devices in July for an estimated October retail launch, according to the report. This timing would line up with Apple’s launch process, which typically includes a press event in mid to late September to debut new products that will go on sale the following month.

The watch itself will have a 2.5-inch rectangular-shaped touch screen that’s actually arched out. Presumably, this would make sense as a curved screen would fit nicely on a wrist. The device will also feature wireless charging capabilities, and sensors to monitor the wearer’s pulse.

Reuters’ sources indicate that Apple estimates sales of the smartwatch to hit 50 million units in its first year.

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