Apple has discussed charging 'around $400' for its wearable 'iWatch' - report

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Apple's anticipated "iWatch" may carry a price of around $400 when it goes on sale, though the wearable device is likely to be offered at a range of price points, according to a new report.

"iWatch" concept by Martin Hajek.

The new details on Apple's first wearable device were reported on Saturday by Re/code, which said sources at the company indicated executives "have discussed charging around $400" for the so-called "iWatch." But the report cautioned that pricing has yet to be finalized, and may not even be known by the company's Sept. 9 event, when it's expected to formally unveil the rumored product.

The same publication reported on Friday that Apple's "iWatch" is not expected to launch immediately after it is finally disclosed. Sources have reportedly indicated that the wearable smart device will not end up on consumers' wrists until early 2015.

If $400 proved to be the entry price of the device, it would be on the high end of the market. Newer Android Wear devices have generally been priced between $250 and $300, while the lower end of the market is catered to by the black-and-white Pebble, priced starting at $150 for its entry-level model.

Going beyond a possible $400 starting price, it's possible that Apple could compete with luxury watches at the high end of the market. Earlier this year, in April, analyst Ming-Chi Kuo of KGI Securities said that Apple's "iWatch" could reach prices in the thousands of dollars with some premium models.

Pegging down a possible price range on the "iWatch" has been difficult for observers because rumors have not yet painted a clear picture of exactly what the device will be and what functionality it will accomplish. In fact, there haven't even been any parts leaked from the device, as manufacturing is not believed to have yet begun.

The accessory is said to be an iPhone-connected smart watch that will collect and interpret health and fitness related data, while also providing the usual expected functions such as notifications.

Reports have claimed it will feature a touchscreen of some type, whether OLED or otherwise, and that the "iWatch" will run a modified version of the iOS platform that powers the iPhone and iPad. It's expected to connect to and act as an accessory for the iPhone, and also to focus on tracking and measuring health and fitness data. To that end, it's been speculated that the "iWatch" will be a key component of the new Health application built into the forthcoming iOS 8 update for iPhone.

Apple send out invitations to members of the media on Thursday for a Sept. 9 event, where the company is widely expected to unveil both the "iWatch" and a next-generation "iPhone 6." While consumers may have to wait for the "iWatch," it's likely that the next iPhone will go on sale the following Friday, Sept. 19, after it is unveiled.