The rumors of Apple preparing an iOS running watch has been in the air since quite some time and now, according to a latest report in Bloomberg, the wait for what is being dubbed as the ‘iWatch’ might not be as much as expected initially and the smart watch could be unveiled this year by the Cupertino-based giant.

The report says that a team of about 100 engineers from Apple is working on this project and by the time the final version if the iWatch arrives, it would be able to perform some of the tasks which are currently possible on the iPhone and the iPad. The rumored iWatch will basically let the users perform certain tasks on their iPhone/iPad without needing to take them out from their pocket/bag.

It is being said that the iWatch would be able to perform all the basic features like make calls and see the identity of incoming callers. Also, other features like checking coordinates on a map and the smart watch could be loaded with sensors like a pedometer to count the number of steps and other sensors for measuring health. 

The Verge also confirms the facts of Bloomberg’s report and suggests that Apple’s design chief Jonathan Ive is heading the team of 100 engineers working on this project. Apple has reportedly reworked the iOS completely instead of opting to build the iPod nano’s proprietary touch operating system. However, Apple has been facing some issues with the iWatch and one of them being the battery life issue. Apple is aiming to get a battery life of about 4-5 days on a single charge from the iWatch, but the current prototype models are only able to give an up time of a maximum of 2 days. 

The iWatch is expected to be available by late-2013 and it is also believed that Apple has already filed 79 patents for the same. We’re pretty keen to see what Apple finally has to offer as been long since we saw a new product from their stable.