Sigh. iWatch has been known to be in development for at least 2 years, probably more. Just because other people rush something out to beat Apple to the punch...
Rumored. Rumored to be in development. The iWatch technically can't even be called vaporware since AFAIK Apple has never said they were producing one. As someone earlier quoted, it seems everyone is getting into the wearables craze. No one wants to be the only company without an offering. It's just business.