Apple is known for making products that people never thought of actually needing, but sure as hell want to have them.  And this is the case for the infamous iWatch.

An iWatch is a flexible, wearable timepiece which not only gives you the time of the day, the date, but also other information you usually store on your smartphone or tablet, like reminders, meetings, appointments, and it even tracks your steps to help you keep fit.  The iWatch can also be integrated with other mobile apps, and be socially connected.  Plus it can make calls, let you see who is calling, and get directions. So it’s like an iPhone for your wrist.  But here’s the catch: it’s not yet available in the market, no one has seen it yet, and it’s not even sure if its already in production.

So why is there so much buzz regarding this product?  Because it’s from Apple, and the company Steve Jobs founded is long overdue for a fresh gadget.

Previous reports stated that Corning Glass, the makers of the Gorilla Glass, will be responsible for the flexible screen, the Willow Glass, to be used in the iWatch.  And a recently unearthed patent filing revealed that the wearable timepiece is a slap bracelet designed to deliver an uninterrupted screen of information.  Apple has filed at least 79 patent applications that include the word “wrist,” which just shows how serious the company is about wearable technology.

Corning president James Clappin stated that they’ve sent out samples of Willow Glass to phone, tablet and TV makers and is working with “very big name” customers on how to handle spools of the flexible screen.  The downside is, Clappin predicted it will take at least three years before consumers start seeing gadgets with flexible screens in the market.

However, with Bloomberg reporting that the iWatch could be a $60 billion opportunity, reports are now stating that the timepiece will be available as early as the second half of 2013.

Over 100 product designers are said to be working on the iWatch with Jony Ive, Apple’s design chief leading the way.  Ive has always been interested in watches, and even visited factories and ordered boxes of Nike’s sports watch in the mid-2000.

“Apple can merge fashion with function,” said Marshal Cohen, an analyst at NPD Group. “An Apple watch could triple the size of the watch business in a year or two. They have the opportunity to get everyone that owns a cell phone to go out and buy another watch.”

So, when the iWatch finally becomes available in the market, will it be something you buy because a) you really need it, b) it’s fashionable, or c) because it’s simply made by Apple?