Apple is already working on its first smartwatch, presumably named iWatch, according to the recent rumors.

The rumor mill is churning non-stop in the past 12 months or so. Although the gadget has been reported a long time ago, the new report indicated that LG will help develop the Apple iWatch soon. More so, a release date window was announced with the alleged time when the device will enter mass production.

LG landed an exclusive deal with Apple according to the Korean media. LG was reported to be the sole manufacturer of iWatch displays. This was not first time that Apple and LG were rumored to work together back in October, the two tech giants were already rumored to collaborate.

The report added LG will be the company to produce the iWatch panel, which will measure 1.5 inches with flexible display technology or plastic OLED. The flexible display technology is the same technology used in the LG G Flex smartphone in the past year and the same curved design will be seen in the iWatch.

Also, the rumors indicated that LG will begin the mass production of the iWatch screen from July to September 2014 and the initial volume will be set at two million units. If these rumors were accurate, a summer iWatch launch might be seen.

Citing a reliable source, The Korea Herald also reported that "LG Display has been in talks over flexible organic light-emitting diode panels for quite a while and it looks like it will be sealing the deal with Apple."

At present, LG supplies the Cupertino tech giant with LCD panels for the iPad, MacBook and iMac Apple products.

The Taiwan's RiTDisplay was also rumored to be a main contender for Apple's purported iWatch along with LG. Back in May, a rumor indicated that Apple was looking into the company's 1.5 inches touchscreen technology allowing the future iWatch to be as light and thin as possible.

With the rumors of possible manufacturers of iWatch, Samsung is notably missing from the list. According to reports, Apple met with the Korean tech giant but the discussions between the two were not fruitful.

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