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Apple's wearable could hit shelves in October

Insiders suggest initial manufacturing capacity of 3m-5m units per month

Apple badly needs a category-defining product to lift its stock value.
Apple badly needs a category-defining product to lift its stock value.

Apple Inc is planning to bring its first wearable, rumoured to be a smartwatch, to market in October and will target an initial production capacity of 3m to 5m units per month, Reuters reported, citing Nikkei-sourced insiders.

Apple's iRange is currently produced by Taiwan's Foxconn Technologies from its factories in mainland China. According to Apple Insider, in November production volumes for the iPhone 5s had reached 500,000 units per day after Foxconn dedicated 300,000 employees and 100 24-hour assembly lines to production of the smartphone.

The exact function set of the rumoured iWatch is unknown but based upon Apple's hiring patterns and patent filings, industry observers expect devices with curved OLED screens and sensors that collect health data from users, such as blood glucose levels, calorie intake and sleep activity.

Analysts and investors are waiting for Apple to introduce another game-changing product to lift its stock to September 2012 levels when it was the world's most valuable company by market capitalisation. South Korean arch rival Samsung Electronics has already produced two generations of its Gear smartwatch and orchestrated a platform change from Android to Tizen. And while the Gear range serve only as companions to its smartphone and tablet devices, Samsung is reportedly working on a true standalone smartwatch.

Apple has yet to officially announce its wearable tech and if it is a mere companion piece then Samsung will have beaten Cupertino to the punch on both wearable tech and standalone smartwatches.