Rumors of Apple building a watch-like device have existed since time immemorial -- they've built up the same near-mythical status that the iPhone did pre-2007, or a TV set does today. The New York Times, however, claims that the watch concept exists as more than just some fan art. Reportedly, Apple has been "experimenting" with wrist-wearable devices that would run iOS and use curved glass. Other details are left to feverish speculation, although the OS choice suggests it would be more than just a glorified iPod nano watch. Before we get too excited, we'd do well to remember that any testing in a design lab doesn't equate to production plans: the company might well scrap its work before it ever becomes public, if it's indeed real to start with. Still, there have been enough advances in flexible displays and miniaturization that the notion of connected, wearable Apple gear is no longer as far-fetched as it once seemed.
Update: Not to be left out, the Wall Street Journal has made a similar claim. It adds that Apple has explored possibilities with its contract manufacturer Foxconn, although there's not much more to learn at this stage.