“Tim Cook in April said Apple is ‘closer than it’s ever been’ to introducing a new product category, but there’s no telling what that actually is or when it’s coming,” Michael Comeau writes for MarketWatch. “Heck, it could be the television set that many people (including me) expected two years ago.”

“But let’s assume for the sake of argument that the iWatch actually exists and is destined for release soon. After all, Apple did just hire Patrick Pruniaux, vice president of global sales & retail of LVMH’s Tag Heuer watch unit,” Comeau writes. “Can Apple improve on existing smartwatches? It’s a tricky situation.”

“If Apple is indeed launching a smartphone this year, or any new product category for that matter, then it will have been in the works for years — possibly back to the Steve Jobs days,” Comeau writes. “The sales potential of a big-screen iPhone 6 is huge, but I’d consider the iWatch a wait-and-see situation. If it exists, of course.”

Read more in the full article here.