In Australia retailers such as JB hi Fi and Dick Smith are tipping big revenues from wearable devices with several set to go on sale in the last quarter of 2014.
The Web site 9to5Mac has claimed that Apple is working on a sensor-laden iWatch that will work with an application codenamed "Healthbook", capable of monitoring and storing information such as steps taken, calories burned, blood pressure, hydration levels and even blood-related data such as glucose levels.
Apple's health and fitness application will be part of the company's upcoming iOS 8 operating system, the report said, suggesting that the iWatch may be released this year.
However the wearables market is already crammed with devices that measure fitness levels. Worldwide consulting service Deloitte last week warned that the smart fitness band market, while moderately healthy, would never go mainstream.
It estimated that the total market for fitness bands and smart watches in 2014 would be about 4 million bands and 2 million watches.
Deloitte suggested that smart glasses would generate more revenue - especially from businesses and mining groups - with sales of around 4 million at an average US$500 each.Apple engineers are said to be experimenting with new methods of extending battery life and improving charging methods, according to a report in the New York Times.
A former Apple executive told the newspaper the company has long tried to incorporate solar charging to iPhones and iPods, but that the technology could still be many years off.
An insider briefed on the project claimed Apple has been testing a magnetic induction technology to charge its wristwatch wirelessly, a method already used by some Nokia smartphones.
It works by placing the device on a charging plate, which creates a magnetic field triggered by an electrical current, which produces voltage to power the device.
Another technology its claimed Apple has been experimenting with is that of solar power; adding a solar-charging layer to the smartwatch's curved screen to facilitate daylight charging.