The latest iWatch rumor suggests the highly anticipated device may feature an OLED touchscreen. It is also reported that Apple Inc. (NASDAQ:AAPL) has a lot of faith in this gadget and plans on building anywhere from 3 million to 5 million devices a month.

Apple iWatch

iWatch’s health-oriented features

The new smartwatch reportedly will monitor health-related metrics like blood oxygen levels, sleep activity, calorie consumption and blood glucose. It will also allow users to read messages from a connected iPhone. Apple Inc. (NASDAQ:AAPL) is also teaming up with the Mayo Clinic and Nike to make good use of the data. As discussed below, the shoe giant may have major plans with Apple Inc. (NASDAQ:AAPL) in the near future.

A few months ago, it was reported Nike will soon exit the wearable device market. A source close to the matter claimed Nike fired 70% to 80% of their employees from the Digital Sport Division. The company’s representative Brian Strong only elaborated that Nike must match resources to business priorities. Furthermore, when a company’s top priorities change, it is sometimes necessary to lay off some workers. The report also speculates Nike Inc (NYSE:NKE) is likely trying to develop a closer relationship with Apple, perhaps with a focus on services instead of hardware.

The iWatch’s OLED design

The iWatch will likely run a version of iOS 8. The device could feature a flexible OLED design that is form-fitting with a curved screen to contour the wearer’s wrist. It is a modern look that would certainly fit Apple Inc. (NASDAQ:AAPL)’s design aesthetic.

Although smartwatches are not a new concept or product, there is a good chance Apple could revolutionize the smartwatch industry much like the iPhone did for the smartphone industry. Given the new device’s major focus on health-related features, Apple Inc. (NASDAQ:AAPL)’s purported iWatch may also revolutionize the fitness oriented tech market. Apple is as always ready to take on new, big and exciting ventures.