Earlier in the week we reported that Apple finally sent invites for its September 9th event. Previous rumors suggest that Apple might unveil its much awaited smartwatch alongside the new iPhones. The company itself has not confirmed if a wearable device is on the cards. Rumors and reports about this particular device keep coming in and the latest suggests that the iWatch price might be set by Apple at $400.

Word on the street is that while the iWatch might be unveiled at Apple’s September 9th event it may only start shipping in 2015. In that case Re/code reports that the company hasn’t finalized the $400 price as yet but its under consideration, its unlikely for the price to be confirmed even if the wearable is announced at the event.

it also cites sources which claim that Apple will be shipping multiple versions of its wearable device and that some will have a lower price point. This strategy would help Apple in countering the onslaught of wearable devices from rival manufacturers who are pushing these products for a variety of price points.

A wearable device is believed to be pivotal in Apple’s ambitions of expanding its presence in the home automation and mobile health space. The device is expected to work with Apple’s new Healthkit and HomeKit frameworks, making it stand apart from similar products by other manufacturers.

Even though Apple has said multiple times this year that it plans to enter into new product categories it is yet to explicitly state that the iWatch is one of them. We’ll have to wait until September 9th to find out for sure.

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