Apple Inc. (AAPL) Smartwatch Among Time Magazine’s Top Inventions List

Apple Inc. (NASDAQ:AAPL) smart watch took a spot in Time Magazine’s list of most innovative Products of the year. Other products that made it to the list were Surface Pro 3, Blackphone and selfie stick.

Apple Watch brings computer on wrist

The magazine noted that Apple Watch is more like a computer on the wrist, with novel interface that is clubbed with the touchscreen and physical buttons. Smart watch from Apple can tell directions, send messages, track fitness and make wireless payments. The smart watch will be available early next year with an entry price tag of $349.

Almost all smart watches available in the market aim at minimizing the experience of using a cell phone with awkward results. On the other hand, Apple Watch has completely reimagined the computer for the wrist.

The iPhone maker has not yet rolled out its watch, but it will come in different editions such as the 18-karat gold model, which will be priced somewhere above $5000. Apple Inc. (NASDAQ:AAPL) has not given any set date for the launch except for hinting early 2015 time frame.

Contract with Quanta

According to some of the reports, the production of the Watch would start somewhere in January, which backs the idea that Apple would make the Watch available in the retails stores by February or March.

Further, there are reports that the Cupertino, California-based company has hired just one supplier for its smart watch, Quanta will probably be the only manufacturer of the new Apple Watch. There have been unconfirmed reports of Apple Inc. (NASDAQ:AAPL) and Quanta signing a deal, which would restrict Quanta from manufacturing smart watches for any other company. Also, it is believed that the company has started the recruitment process for Apple Watch, and will probably increase workforce to around 40,000 staff.

A report from Timothy Arcuri from Cowen and Company noted that Apple Watch would be powered with 512 MB RAM and reportedly feature 4GB built in storage. The news has been apparently leaked from Apple Inc. (NASDAQ:AAPL)’s supply chain, which notes that another version of Apple Watch would come with 8GB of storage.