Are You Ready For The New Apple Watch?

Apple Inc.'s (AAPL) - Get Report  possible plans for an Apple Watch that connects directly to cellular networks would be a boon to cellular carriers and a disaster for rival smartwatch makers.

Bloomberg reported Friday that, while current Apple Watches require wireless connection to an iPhone in range, the company plans to release a smartwatch later this year featuring LTE chips that can perform the tasks iPhone-free.

While Apple doesn't break out Apple Watch sales numbers and the business is relatively insignificant, Bloomberg noted that Apple CEO Tim Cook described it as the best-selling smartwatch "by a very wide margin," with sales up 50% in the third quarter.

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