The iWatch, Apple Inc.’s next product, is a $6 billion opportunity for Apple. The device is being developed by a team of 100 engineers and the Cupertino based company is hoping it would compensate the lagging sales of iPhones and iPads.
Citigroup Inc. analyst Oliver Chen told Bloomberg:
This can be a $6 billion opportunity for Apple, with plenty of opportunity for upside if they create something totally new like they did with the iPod — something consumers didn’t even know they needed.
The iWatch will be introduced in the market by 2013. Among the features being developed are letting users make calls and “check map cordinates.”