If the rumors are true, then Apple's wristwatch-style device could prove more profitable than TVs, which CEO Tim Cook has hinted are also in development. 

That's according to Bloomberg who says Apple is poised to make the leap, given its recent slump in iPhone and iPod sales that kicked off last September after its stock hit an all-time peak amid "accelerating competition led by Samsung Electronics Co." 

Citigroup Inc. analyst Oliver Chen called the rumored iWatch "a $6 billion opportunity for Apple," so long as the iconic brand can tap into consumers' unknown needs, and noted the global watch industry generates four times as much gross margins than televisions. Overall, he said, watch sales will total more than $60 billion this year, proving Apple may have expert timing. 

[via Bloomberg]