It is possible that Apple will be going forward with plans to create a rumored smartwatch as it is being reported that the company has applied for a trademark on the name iWatch. Analyst at Creative Strategies Tim Bajarin said, "Apple doesn't like to take a leadership position, but when they see a product that's caught the consumer's attention, they really take notice," citing examples like the Pebble watch that got its start on Kickstarter. Samsung is another major player that is about to release its own product and there appears to be a "positive response from consumers to tech devices you can wear." An additional report from Bloomberg cites "two people familiar with the company's plans" who have said that Apple has assigned a team of 100 designers to work on the watch.
Source: Mercury News