Following the New York Times report that Apple is developing a smart watch, the Wall Street Journal also made a more detailed report. According to the report, Apple has discussed with Foxconn the technical issues of developing smart watches. Foxconn is said to be studying several wearable electronics technologies, focusing on reducing power consumption and making chips thinner.

The Wall Street Journal also revealed that Foxconn not only developed such technologies for Apple, but also cooperated with several other technology companies, but the report did not disclose which ones.

Google is also developing wearable electronic product technology, and Google Glass is an example. At present, developers are testing Google Glass, which is scheduled to be launched in 2014. Shortly after Google Glass was released, Apple applied for a patent to solve a series of problems caused by wearable electronic products.

Many industry observers believe that wearable electronic products will be the next innovative technology after mobile technology. Gene Munster, an analyst with Piper Jaffray, predicted that once this technology is provided to consumers, it will quickly replace the iPhone, just as the iPhone quickly replaces the iPod.

So far, the New York Times and the Wall Street Journal have both made detailed reports on Apple's smart watch, making the rumors of Apple's smart watch more credible. Last December, it was rumored that Apple and Intel jointly developed an Apple smart watch with a 1.5-inch OLED screen, which supports Bluetooth 4.0, can connect to the iPhone, and has several basic iOS functions built-in.