Apple Inc. (NASDAQ:AAPL)’s highly anticipated iWatch will likely be released during the third quarter. This report comes from Chinese news source Economic Daily and was relayed by Digitimes.

Apple iWatch Concept

Apple iWatch to launch later in 2014

The report cited a purported list of materials which indicate a third quarter launch. This report also predicts Apple Inc. (NASDAQ:AAPL) will release 65 million units this year. This number is surprising considering the lack of general consumer interest in smartwatches that are already on the market. Perhaps Apple could change that.

There is also the possibility that the iWatch may not really be an iWatch at all; instead, it could be a fitness band that monitors the wearer’s health stats or something else similar. Another report from a Barclays analyst indicates the iWatch could feature a UV light exposure sensor.

More about the purported sensor

Blayne Curtis wrote in a note, “These chips measure UV exposure to aid those with elevated risk of sunburn or just a general concern about excessive sun exposure, and we believe they may be of appealing [sic] to OEMs looking to differentiate in a crowded market.”

UV exposure measuring might not be the only capability the sensor could feature. Silicon Labs reports it also analyzes pulse, heart rate, proximity, blood oximetry, and gesture control. The latter can use both infrared and ambient light methods. Silicon Labs measures this chip sensor at 2 millimeters square. This chip could be a key component in the upcoming iWatch.

There has been previous speculation Apple Inc. (NASDAQ:AAPL) would utilize something similar with optoelectric devices. Economic Daily added that Quanta will build the device. Supply company TPK will provide the screens for the device and Richtek will supply chips. Last, but certainly not least, Apple reportedly will design the processor for the smartwatch. However, the Cupertino-based tech giant will also outsource chipset production to Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930). The arrival of the iWatch is nearing.