Apple's iWatch Rumored To Debut This Year: WIll Apple Be Able To Do For Watches What It Did For Personal Computers And Music?

Apple's iWatch is rumored to debut later this year.

The company that revolutionized the personal computing and music distribution, is now trying their hand at wristwatches.

According to Bloomberg, Apple had a staff of 100 people working on the iWatch.

The company hopes to update the wristwatch for the cellphone era.

Some possible features for the iWatch include the iPhone's computer assistant Siri and the iCloud. The service allows users to store data such as music and iOS applications on remote computer servers for download to multiple devices

It's possible Apple will utilize a wireless patent the company owns, since iWatch owners would likely be unwilling to charge their watch twice a day like they would for a smartphone.

The Wall Street Journal reports that Apple is in discussions with Chinese manufacturer Foxconn about mass producing the iWatch. Foxconn makes iPhone and iPad parts. 

CNET.com predicts the iWatch could be more profitable than Apple's other rumored new business, Apple TV.

While the television business is saddled with low margins, a long replacement cycle, and high costs, CNET points out that the watch business boasts higher margins and growth.