Apple rumor watch: iOS timepiece on drawing board?

After creating the iPod, iPhone, and iPad, is Apple now working on an iWatch?
A report cited by Business Insider claims that Apple has partnered with Intel to develop an iOS watch. Supply chain sources reportedly told Chinese blog site Tech163.com that the watch would be Bluetooth-enabled and sport a 1.5-inch OLED screen.
The so-called smart watch would debut sometime in the first half of next year.