The long rumoured Apple Smart Watch is set to be introduced to the world late 2014. This is according to Ming-Chi Kuo, a respected KGI Securities analyst, who has consistently provided accurate information regarding Apple's product plans. He released a research report stating his expectations over Apple's future device. Netizens call it the "iWatch" after Apple's current product names.

The smart watch was expected to launch later this year but the analyst believes Apple is experiencing software and hardware issues, pushing the scheduled release in 2014. Kuo also states that Apple may not have the right amount of resources right now because of the expected changes to be made to the iPad and iPhone within the year.

Components for wearable devices are relatively new. A mass production of Apple's smart watch will probably begin next year and not late 2013 as originally anticipated. Kuo further predicts the iWatch will be using display measuring 1.5-2.0 inches. He says Apple will turn to the components found in the iPod nano and may use a similar touch technology and main processor.

It is worth noting that the iPod nano and iPad mini has the same GF2 touch technology. This is based from Kuo's assessment that the smart watch will have the same size and computing requirements as the iPod nano.

Kuo believes that the defining feature of the smart watch is biometrics. Incorporating biometric technology into the device will increase security and allow the further development of applications related to health and wellness. A biometric-enabled smart watch will also make it possible for Apple to allow integration between iOS devices.

Rumours of the iWatch have temporarily died down the last few months but Apple was reportedly testing 1.5 inch OLED displays earlier this week. Another report also claimed that Foxconn was preparing to build a thousand devices as part of a trial device run.