Apple 'has team of 100 engineers working on iWatch'

Apple's experimental watch project may be more advanced than previous reports suggested , with Bloomberg now claiming Apple has about 100 engineers working on its rumoured iOS timepiece.

The management team Apple has reportedly established around the watch may suggest the company is further into the watch project than just experimentation.

According to Bloomberg on Wednesday, the team has grown in the past year to include managers, marketing staff and perhaps not surprisingly, software and hardware engineers who worked on its iPad and iPhone.

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An interesting titbit, if true, is that Apple's senior director of engineering, James Foster, and program manager Achim Pantfoerder are said to be involved in the wristwatch project. 

Besides that, the report published on Wednesday adds little to the initial report  earlier this week in the New York Times by Nick Bilton, who is convinced Apple's entry into wearable computing will begin with the wrist, over Google's glasses approach , because technology on the wrist is less intimidating to consumers.

The rumours of an iWatch come as Apple's stock continues to take a beating as fears mount amongst investors that Apple has reached the limit of its capacity to grow, and that it will face difficulties maintaining an edge over Android rivals, primarily Samsung.

Addressing investors at a conference on Tuesday Apple chief Tim Cook defended the company's "unrivalled" record for innovation and intent to roll out its iOS "ecosystem everywhere".

While he gave no indication of new product strategies that would bring its products to lower price points , Cook outlined that the iPhone was only available to 50 percent of the world's subscribers and that Apple had solved the sub-$1,000 computing problem with the iPad. However, it would never build a "cheap product", he said.