Is There An Apple Smartwatch In Your Future?

NEW YORK ( TheStreet) -- You can tell it's a somewhat slow time in tech news when years-old rumors begin to resurface. Take this weekend's stories about a possible Apple ( AAPL) connected wristwatch which may or may not be in the works.

The New York Times had a story about Apple developing and testing a "smart watch" type of device which will run on its iOS software. The newspaper quotes sources who believe that Corning ( GLW) has supplied Apple with some curved glass samples to use as crystals in its testing.

Apple refused The New York Times' request for a comment on the situation.

Not to be outdone, The Wall Street Journal had its own story about a possible Apple watch. The Journal reported that Apple has already been speaking with Chinese manufacturing giant Foxconn about producing the device.

Quite honestly, it really wouldn't be a huge stretch for Apple to develop such a product. A recent iPod, which could be set to display the time as a screen saver, was small enough to fit in a wrist band, and be worn as a watch. A number of other companies have already tried smart watches as health, fitness, or location-finding tools - but none have really caught on on a large scale.

The real question is how much an iOS-based smartwatch will cost and what will it let you do that can't be done on your iPhone (or your somewhat less portable iPad/iPad mini device)?

Even though wearing wristwatches has fallen out of favor with the "under-40" crowd, wearable computers, in some form or another, would logically be the next step to market to Apple's customers. And, if anyone could make a "smartwatch" a super-cool, must-have device, it's Apple.

--Written by Gary Krakow in New York.

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Gary Krakow is TheStreet's senior technology correspondent.