Don't plan on spending your money on an Apple smartwatch this year, according to KGI Securities analyst Ming-Chi Kuo. He expects the rumored iWatch will surface later in 2014 and that it will include biometric-related features, too.
The reason why the iWatch won't happen in 2013 is because Apple needs to rework parts of iOS and the iPhone and iPad for the device. He stated,
Apple may not have adequate resources to develop an iWatch version of iOS because it may require big changes to iPhone and iPad iOS this year. For these reasons, we think mass production of the iWatch is more likely to begin in 2H14, not 2H13 as the market speculates.
Like other rumors, he expects Apple's smartwatch will use a 1.5-inch or 2-inch touch-sensitive display. That display will likely include the same touch technology Apple is currently using in the iPad mini and iPod nano, and the biometric integration will offer strong security features.
Rumors surfaced a earlier this month suggesting that Apple is currently testing displays for its smartwatch, and that the company has ordered test runs of 1,000 units. Earlier this year, insider sources claimed Apple has over 100 engineers working on its smartwatch product.
So far Apple hasn't offered up any hints as to whether or not or really does plan on selling its own smartwatch device. the KGI report is right, we likely won't have any official confirmation until sometime in late 2014.
[Thanks to Mac Rumors for the heads up]