Apple has made big news again recently with its acquisition of the Beats headphone maker and streaming service started by Jimmy Iovine and Dr. Dre. However, much bigger news could be on the horizon considering the entry into the smart watch arena of the highly anticipated and long awaited iWatch.

According to news on PCAdvisor, Apple is, in fact, already working on the said device, and speculations and current pieces of evidence strongly suggest that it will not be too long now before the iWatch is announced. Many tech writers are now convinced that Apple does intend to produce wearable technology. It is the next logical step for the company, especially after rivals such as Samsung have begun -- beaten Apple to -- the competition with the release of their own smart watches.

Apple CEO Tim Cook is reported to have said, "The wrist is interesting." Furthermore, he has also mentioned on different occasions that the company is intending to introduce "new product categories." While they do not aim to be the first, they always make it a point to be the best in product development.

Apple is in fact known for working behind the scenes. The name "iWatch" is already owned by the company in several countries, definitely suggesting its eventual existence. Several photos have been going around online with concept designs by speculators with a possible look similar to the square-shaped sixth generation iPod Nano or another one that resembles Samsung's curved Galaxy Gear Fit. Industry rumors say the launch will come in Autumn.

Expected features include a Mail app, Siri, a simple browser, and communications accessibility such as making and answering calls as well as text messaging. The most attractive feature, however, would be the health and fitness tracker with Apple's "Healthbook." The device would allegedly be able to monitor the wearer's health data including blood pressure, heart rate, physical activity, and even hydration level. This makes endorsements with athletes natural and LA Lakers star Kobe Bryant was pictured with wife Vanessa at Apple's Infinite Loop campus in Cupertino. Apple is reportedly working with Nike, who is one of Bryant's sponsors.

No narrowed-down speculations regarding price have been predicted. But knowing Apple, the price range might just be a little more expensive than its counterparts.