Apple testing iWatch - Report

Company reportedly exploring designs for watch-like device that would feature some smartphone functions.

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Apple's next device could be an iWatch. Sources have told The Wall Street Journal that the Cupertino technology giant is currently testing designs for a watch-like device that would be capable of performing certain smartphone functions.

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According to the report, Apple has been in talks with manufacturing partner Hon Hai Precision Industry Co. (Foxconn) about the device. The discussions were reportedly part of a broader exploration into product categories outside of the smartphone and tablet markets.

The sources added that Apple's exploration of this new market is nothing new. The report states Apple has hired new employees with backgrounds in "sensors and related technologies" in the past few years.

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