The rumored Apple’s iWatch has everyone buzzing with speculation. On Monday, Mackotora highlighted several reports that Apple Inc. (NASDAQ:AAPL) was working on 1.5 inch OLED displays for the iWatch. These reports initially came from Taiwan newspaper Economic Daily News.

iWatch

The first report claimed that Apple Inc. (NASDAQ:AAPL) is currently in the testing phase of organic light emitting diode displays. The tech giant reportedly tested 1.8 inch panels but decided to go with the smaller 1.5 inch displays instead. The report also claims that the iPhone 5 manufacturer is looking into 1.5 inch touchscreens from RiTdisplay that features one glass touch solution touch sensors.

There have been numerous rumors for years that Apple Inc. (NASDAQ:AAPL) wants to use OLED screens but so far the company has yet to build products with it.

The second report says that Foxconn Technology Co., Ltd. (TPE:2354) has received orders for the iWatch but the first round of production will be no more than one thousand units. This would make it a small trial production.

Despite all the hype behind the purported iWatch, only 19 percent of consumers would be interested in purchasing the tech watch. However, this number exceeds the percentage rate of consumers who were reportedly interested in the iPad before the product was officially announced. If history is any indicator, the iWatch should be a huge seller.

An iWatch would be an interesting new gadget but given the immense popularity of the iPhone, it’s questionable to how this potential new device would work or fit with the Apple Inc. (NASDAQ:AAPL)’s biggest seller. If consumers bring their iPhone’s everywhere and use them for virtually everything (including telling time), what would they use the iWatch for?

It should be interesting to see what Apple Inc. (NASDAQ:AAPL) does with the purported watch if and when they actually release the device. In the meantime, we can look forward to the upcoming Worldwide Developers Conference in San Francisco next month where Apple Inc. (NASDAQ:AAPL) will debut their next iOS and give us some insight on what to expect next.