FORTUNE -- Led by Peter Burrows, a veteran tech reporter with more than two decades under his belt, Bloomberg has taken a second crack at the Apple (AAPL) iWatch story that the New York Times and Wall Street Journal broke three weeks ago.
Bloomberg's contribution that first week was a report, sourced by two people "familiar with the company's plans," that Apple had 100 product designers working on a wristwatch-like device that could perform some of the tasks now handled by the iPhone and iPad.
Monday's piece offers an analysis of the smart watch business that makes it look considerably more attractive than the prevailing view on the Internet -- which is that nobody wears a watch anymore except as a fashion statement.
Among the points the Bloomberg story makes:
Among the features under consideration, according to one of Bloomberg's sources, is making phone calls, seeing the identity of incoming callers, checking map coordinates, counting steps (with a built-in pedometer) and monitoring health-related data, such as heart rates.
Assuming a 10% market share of a $60 billion market with a 60% gross margin, Bloomberg estimates that Apple could see revenues of up to $3.6 billion with a successful smart watch. Morgan Stanley's Katy Huberty did a similar exercise and came up with incremental revenue to Apple of $10 to $15 billion a year, assuming 20% of Apple's existing customers bought one every two years. See her spreadsheet below.
Bloomberg's story: Apple's Planned 'iWatch' Could Be More Profitable Than TV
Has Apple built a smaller, cheaper smartphone that is carrier independent?
Peter Burrows, a tech writer who knows his stuff, reports in Bloomberg Businessweek that Apple (AAPL) is putting the finishing touches on two key technologies:
An iPhone one-third smaller than today's model that could be sold for about $200 without a contract
New software built around a dual-mode chipset and a universal SIM that would allow users to change carriers on the MORE
Rather than a "best of TV" subscription service, Apple will be streaming programs a la carte
[UPDATE: The event is actually scheduled for Sept. 1. See here.]
Fuzzy rumors about Steve Jobs' next move in the TV market have been swirling for the better part of a year, but the picture snapped into focus on Tuesday.
A report by Peter Burrows, a veteran BusinessWeek reporter now writing for Bloomberg Businessweek, lays out the MOREPhilip Elmer-DeWitt - Aug 24, 2010 6:28 PM ET
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