After Apple announced the possibility of an iWatch, Microsoft now might be building its own smartwatch.

A Wall Street Journal reported that Microsoft asked suppliers earlier this year to ship components from Asia for such a device, among them 1.5-inch touchscreens.

One of the sources for the Wall Street Journal report met with Microsoft's research and development team at its base in Redmond, WA.

Apple is also thought to be developing such a device - the so-called iWatch - with a report in February this year claiming "a team of about 100 product designers [is] working on a wristwatch-like device that may perform some of the computing tasks now handled by the iPhone and iPad."

A Samsung executive confirmed last month that the company has been working on a futuristic watch "for so long", though he declined to say when it might be available, according to the report.

A smartwatch would just be the next level in the technology world. The cell phone has helped changed the way people go about their daily routines and have thus depleted the use of wearing a watch. The watch has started to make a comeback in fashion and the smartwatch might combine the use of a cell phone and the fashion of wearing a watch.

It could be a cell phone on your wrist. Calls could be made, games can be played, the internet could be searched and Apps could be used on this smartwatch.