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Apple's new smartwatch is likely to tie in with its Health app, which will arrive on iOS 8. Jeff Chiu/AP/Press Association Images

Apple thinks millions of people will want to buy its smartwatch

Shipments of the device, which is expected to be released in October, is estimated to total between 10 million and 15 million units by the end of 2014.

APPLE’S NEW SMARTWATCH is likely to be released in October, and more than one version could be made available.

According to the Wall Street Journal, the device, unofficially named the iWatch, will likely come in multiple screen sizes, and will include more than ten sensors including ones to track health and fitness.

The latter will likely tie into its new Health app, which allows a user to access all their health and fitness data from the one place.

Production of the smartwatch could begin in two to three months time and shipments are estimated to total between 10 to 15 million units by the end of 2014, according to a WSJ source.

A separate report from Reuters says that the smartwatch is likely to feature wireless charging and a new heart sensor. However, it says that the device will feature a 2.5-inch screen and the device aims to ship more than 50 million units within the first year of its release.

Apple’s CEO Tim Cook said that the company will break into new product categories at the end of the year. It’s been four years since its last major product, the iPad, was released and the company is under pressure to prove it can continue its run of releasing hit products under Cook’s leadership.

The smartwatch will face competition as Google and Samsung are also in the market. Google’s first Android Wear powered device, the Moto 360 is expected to arrive later in the summer.

Read: Amazon enters the mobile market by launching head-tracking smartphone >

Read: The most popular messaging service among Irish adults isn’t WhatsApp or Viber… >

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