Apple Inc. (NASDAQ:AAPL) has long been rumored to be working on an iWatch, although CEO Tim Cook has said that there aren’t any new products coming out this year. This week KGI Securities analyst Ming-Chi Kuo said he doesn’t think we’ll see an iWatch this year, unlike others who have said it will be out by the end of this year.

Apple-iWatch

Apple’s iWatch Not ‘Til Next Year

He believes Apple Inc. (NASDAQ:AAPL) will begin ramping up production of its iWatch in the second half of next year. In fact, Kuo even went so far as to say that he doesn’t believe Apple Inc. (NASDAQ:AAPL) has the resources to fully develop the iWatch right now.

He also believes it will be some months before the components that would be needed for such a device are developed enough to use in it. The wearable computing market is also such a new market that components for these small devices are relatively scarce in comparison to components for other devices. It will likely take some time to build up the infrastructure and the stock to keep up with what will likely be very high demand. After all, new computing segments aren’t built overnight.

Apple’s iWatch To Focus On Biometrics

He also highlighted the importance of understanding that the term “iWatch” may be a bit of a misnomer. He believes that the device will be worn on the arm like a watch, but its functionality will be less about keeping time and more about computing and biometrics.

There’s been a rapid shift toward biometric products in recent years, with products focusing on heart rate monitoring and other parts of the wearer’s overall health status. As the number of consumers who are health-conscious increases, we’ll see a greater number of gadgets which offer some kind of biometric feature.

And Apple may very well combine biometrics with user security, courteous its acquisition last year of the company AuthenTec.