The Apple iWatch is one of the hottest trending topics in the technology world. Ever since the images for the iWatch have been leaked on the internet, there have been a lot of rumors about the new possibilities that this new device will bring along with it.

Even if Apple denies accepting this fact and we get no comments about the iWatch from the company, analysts and experts believe that the iWatch not only exists, but there is a very high possibility that it will be announced along with the next generation iPhone that is expected to be announced some months down the line.

According to the reports on iWatch, a team of 100 members led by Jony Ive has been working full time on the Apple iWatch project. This device is not only said to be user friendly but will give Apple the upper hand in the entire smartphone industry if the company is able to pull off the iPhone-iWatch combo at the right time and the right price!

Citigroup analyst Oliver Chen has a similar belief. He believes that Apple could grasp up to 10% of the pre-existing $60 billion a year global watch industry.

Chen said, “This can be a $6 billion opportunity for Apple, with plenty of opportunity for upside if they create something totally new like they did with the iPod.” He also mentioned Apple’s unique ability to create products “consumers didn’t even know they needed.”

The iWatch is anyway not a totally new thing for Apple and neither will it be difficult to make an iOS version that can work on this device. For instance, Apple already has the iPod Nano which can be used as a watch, and there is an operating system already present for that device.

Apple is a company that is always focused on its products and right now the company is also in need of a new ground breaking device which will help the company make big profits. The iWatch is the perfect device to make this happen.