Intel Corporation (INTC) & Apple Inc. (AAPL) Working On SmartWatch [REPORT]

Apple Inc. (NASDAQ:AAPL) and Intel Corporation (NASDAQ:INTC) are working on a SmartWatch. This report comes from Chinese website, TGBus. This new watch reportedly features Bluetooth-technology and a 1.5 OLED display designed by RiTdisplay. Unfortunately, there are no more details regarding this rumored device.

TNW added that there were two sources from the supply chain that spilled the info to TGBus and that this watch is supposed to connect to iPhones and iPods.

If this rumor is true, it would be a long time coming as many Apple Inc. (NASDAQ:AAPL) users have been awaitng such a product on the market. The Pebble Technology campaign on Kickstarter.com, for an e-Paper watch for iPhone and Android successfully met it’s goal last May with 68,929 backers and $10,266,845 in pledged finances.

The Apple Inc. (NASDAQ:AAPL) & Intel Corporation (NASDAQ:INTC) SmartWatch rumor is a nice way to end the year as it proves they still got it. 2012 has been quite a remarkable year for the Cupertino-based company. The Washington Post recently shared a review of the tech giant’s highs and lows of the past year. The highlights from this year includes many new gadgets like the iPhone 5, iPad 3, iPad 4, iPad Mini, new generations of Mac computers, and iPods. With the sheer number of new Apple gadgets released in the market, it was truly an epic year for Apple.

Unfortunately, not everything was peachy for Apple. Thanks to the huge success of Google’s Android platform, the company has been battling Samsung, Motorola, LG, and HTC for financial compensation over patent rights. Apple claims that the aforementioned companies stole intellectual property and utilized it into their own products. For the most part, Apple Inc. (NASDAQ:AAPL) has remained successful at winning these litigations, most notably the big battle against Samsung last summer in a California court where the latter was forced to pay the former $1.05 billion in damages. Although they lost the right to ban Samsung products in the United States, the company still enjoyed a successful year.