Google translated from a russian newspaper "Izvestia". Apple filed an application for trade mark "iWatch" with the Rospatent.
http://translate.google.com/transla...UTF-8&eotf=1&u=http://izvestia.ru/news/551471
So it's pretty much confirmed now, Apple is working on it.
http://translate.google.com/transla...UTF-8&eotf=1&u=http://izvestia.ru/news/551471
Application filed by the two classes of the International Classification of Goods and Services (Nice Classification) - 9th (computers, peripherals for them, etc.) and 14th (hours, etc.).
- Hours are 14th class, - says the expert of "Patentus" Anastasia Spilnik. - But the iWatch from Apple, is expected to become multi-functional mobile device and function definitions of time will be far from basic. Therefore, they should also be attributed to electronic devices - is the 9th grade of the Nice Classification.
So it's pretty much confirmed now, Apple is working on it.