Apple's Next Big Thing: the iWatch?

Apple may be developing an iOS-based, bluetooth-enabled wristwatch with a 1.5-inch screen

Apple reinvented the MP3 player, the cellphone and the tablet computer — is it now time for the wristwatch?

MINIMALA Business Insider report claims that Apple has partnered with Intel to develop an iOS watch — iPhone? Meet the iWatch.

The Chinese tech blog Tech165.com reported that the device would be Bluetooth-enabled with a 1.5-inch OLED screen.

The smartwatch would launch sometime in the first six months of next year.

"Obviously, we should all read mysterious reports out of Asia with caution," Nicholas Carlson wrote in the Business Insider report.

But such a device has been long-awaited. MINIMAL, a gadget company, already created a band to convert Apple's iPod Nano into a watch (pictured above).