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Time’s a-tickin’: Apple iWatch to be ready for October release

The Apple iWatch is on its way. Apple plans to start production of its first smartwatch next month and put it on sale in October, Reuters reported on Thursday, citing a source familiar with the matter.

Taiwan’s Quanta Computer, which is the largest manufacturer of notebook computers in the world, will be in charge of manufacturing the device.

The watch, which lacks an official name, but which has been referred to as the iWatch by the media, is expected to have a rectangular display of 2.5 inches diagonally, according to a Reuters source. There are also supposed to be over 50 million units shipped over the first year.

While LG Display Co is the supplier for the iWatch’s screen, the Singapore imaging and sensor maker Heptagon will help produce a sensor that monitors the user’s pulse, according to Reuters.

A explainer of the various rumors floating around about the iWatch earlier this month stated that Apple (AAPL) will also hold a “special event” in October to coincide with the expected release date. Hospitals may be a primary market because of health monitoring capabilities built into the device’s software.

News of the iWatch’s sensor function comes in light of the release of HealthKit, a health and fitness tracker, at the Apple WWDC earlier in June.