Nokia Asha 501

Nokia Asha 501 Dual SIM

Nokia Asha 501

The Nokia Asha 501 Dual SIM is the dual SIM variant of the Asha 501. This is a full touchscreen handset aimed at touchscreen mobile phone users. This device also comes with an affordable price tag and it would fit perfectly within the budget of an entry level touchscreen mobile phone user. 

This device runs on the new Asha software platform. The Nokia Asha 501 Dual SIM is the first handset to feature this software. This device also has swipe UI. There is a 1 GHz processor loaded in the handset for the smooth performance of the device. It also features 64 MB RAM in it. 

The Nokia Asha 501 Dual SIM comes with a 3-inch display screen that offers visuals at 320 x 240 pixels. This handset comes with a bar shaped design and its touchscreen ensures easy navigation. It measures 12.1 mm in thickness and weighs about 98 grams. The 1200 mAh battery loaded in this handset promises up to 17 hours of talk time and 26 days of standby time (for dual SIM). 

This handset comes with a 3.2 MP camera that helps in capturing images with impressive resolution. The internal memory of this handset is not so significant. However, the Nokia Asha 501 Dual SIM has a microSD slot for memory expansion up to 32 GB. This device comes with 4 GB microSD card included in it. 

The Nokia Asha 501 Dual SIM comes with media features that include music player, video player, FM radio and SNS apps etc. Internet support is offered through different platforms like WiFi, GPRS and EDGE. The Xpress Browser loaded in this handset offers great browsing experience for the user. This handset also comes with Bluetooth and micro USB port for file transfer. 

New Google Nexus 7 Available For Pre-Order in Google Play Store

Google Nexus 7

It has been few days since Google unveiled the not-so-secret Google Nexus 7 tablet. The device was expected to hit the shelves on 30^th July and was available for pre-orders on many retailers across different countries. For all those users who want to get their hands on the new, shiny Nexus 7 would be happy to know that they can pre-order it from Google Play store (for the customers in United States). The orders made through Google Play Store are expected to ship by 30th July.

The device features a 7-inch display with 1920 x 1200 pixels resolution, a quad-core Snapdragon S4 Pro chipset clocked at 1.5GHz, 2GB RAM, 16/32GB storage onboard, optional 4G LTE support, HDMI output, NFC and the ability to charge your device wirelessly. On the software side, the device runs Android 4.3 Jelly Bean that was released earlier.

If you want to get your hands on Nexus 7, you can get it for $229 for the 16GB version while the 32GB variant costs $269 in the US. If you are ordering it in UK, you can pre-order the device from a number of retailers including PC World and Currys for £199.99 for 16GB and £239.99 for 32GB model with the delivery time to be in September.

Narendra Modi fans launch Namo Android smartphone

Narendra Modi fans launch Namo Android smartphone

A group, claiming to be "independent body of fans of Shri Narendra Modi", has launched the Namo Android smartphone that will be available 'soon'.

Namo, is short of course for Narendra Modi, the Chief Minister of Gujarat, and Chairman of Central Election Campaign Committee of Bharatiya Janata Party (BJP), one of India's leading political parties. Namo is also, the group shares, short for, Next-generation Android Mobile Odyssey, as the Namo phone is based on Android.

Explaining the motivation in releasing the phone, the group says on its website, "We are fans of Shri, Narendra Modi, our forthcoming future leader of our great nation India, we are manufacturing latest Android handset dedicated to the IRONMAN of modern India."

The website is scant on details about Namo, the smartphone, though it does mention some of the specifications. Namo will sport a 5-inch Corning Glass 2 display and be powered by a 1.5GHz quad-core Mediatek MT6589 chipset. It will have a 13-megapixel camera. The phone will supposedly come in 4 variants, with the amount of RAM and internal storage varying between 1-2GB and 16-64GB respectively. There's no word yet on the price or availability of Namo smartphone.

To be clear, it seems what the group plans to do is import off-the-shelf smartphones from China to rebrand and market them, similar to what many other Indian smartphone brands are already doing. Will the group be around to service the Namo smartphone if and when it runs into issues is anyone's guess.

"We are from land of Gujarat & in electronic smartphone business in China," the group says. "Our product is our way of dedication & respect to our great nation leader. We will be launching NAMO Android handset with Shri Narendra Modi "signature edition", for which process in under way! We will launch our handset very soon... "

Motorola Droid Ultra, Droid Mini and Droid Maxx smartphones launched in the US

Motorola Droid Ultra, Droid Mini and Droid Maxx smartphones launched in the US

Verizon Wireless, the biggest US mobile service provider, on Tuesday announced three new phones under its Droid smartphone brand from Google Inc's Motorola and said that Motorola would be its exclusive Droid phone vendor going forward.

Motorola Droid

The phones, the Droid Mini, Droid Ultra and Droid Maxx will go on sale for $99, $199 and $299 for customers who sign a two year contract and will be available in Verizon stores August 20, according to Verizon Wireless.The latest Droid line-up marks the first phone range that Motorola has designed since it was bought by Google in 2012. It will be followed in little over a week by the August 1 unveiling of the Moto X, a hotly anticipated smartphone from Motorola.

Verizon Wireless and Motorola launched the first phones under the Droid brand for phones based on Google Android software in 2009, at a time when rival AT&T Inc still had exclusive rights to sell the Apple Inc iPhone.The Droid brand helped to resuscitate a struggling Motorola at the time as Verizon Wireless supported the device with a massive marketing campaign.

The exclusivity agreement with Motorola could be a blow for phone makers including HTC Corp, whose devices have also carried the Droid brand in the past as have devices from Korea's Samsung Electronics.Verizon Wireless Vice President of Marketing Jeff Dietel said that since Droid phones should only include its "elite" phones based on Google's Android software it wanted a manufacturer "that matched all the expectations" for unique hardware and services.

Dietel said that his company would still carry Android phones from vendors besides Motorola.Rick Osterloh, Motorola's senior vice president of product management, declined to comment on how the upcoming Moto X phone will differ from Droid phones and who will sell that device.The lowest price Droid phone the Mini is a compact device with a 4.3 inch display. Motorola boasted that its mid-priced phone in the range, the Ultra, is the skinniest smartphone that can run on high-speed Long-Term Evolution (LTE) networks.

It claimed that its Maxx phone has the best battery life of any LTE phone on the market. It can be used for as long as 48 hours without being charged, compared with a previous version of the device which boasted 32 hours of battery life.Verizon said the full retail price would be $499 for the Mini, $599 for the Ultra and $699 for the Maxx.

Verizon Wireless is a venture of Verizon Communications and Vodafone Group Plc.

Samsung Galaxy Tab 3 series

Samsung Galaxy Tab 3 series:

Samsung Galaxy Tab 3 series

Samsung Electronics co. Ltd, a global leader in media and digital convergence technologies on Thursday announced the introduction of the new Galaxy Tab 3 311 (8-inch screen) and Galaxy Tab 3 211 (7-inch screen) in India. The products were revealed by Bollywood actress Yami Gautam. Offering an expanded range of options, The Galaxy Tab 3 series promises to provide consumers with various ways to view, create and share meaningful events and special content with those who mater most.

Whether surfing the web at home or reading during the commute, each device is packed with enhanced content and intuitive design perfect for viewing or sharing content with friends and family.

The new Samsung Galaxy Tab 3 tablets is priced between Rs 17,745 and Rs 25,725 and will be available in three variants Tab 3 211, Tab 3 311, Tab 3 310 to the customers from July 21 onwards.The GALAXY Tab 3 311 has 3G (Voice and Data) capability while the GALAXY Tab 3 310 is a WiFi version only.

"Ever since we pioneered the introduction of tablets in India in the year 2010, we have fuelled the growth of this segment through our innovative Tab portfolio; the most recent being the Note 80 and Note 510. The Tab 3 series carries forward the Samsung legacy of innovation consumers the benefit of the smartest screen, an unmatched performance, smart usability coupled with a host of applications that allow consumers to personalize and thereby enrich their experience with the device", said Mr. Vineet Taneja, Country head, Samsung Mobile and Imaging business during the launch.

Gionee Elife E6 full-HD smartphone launched

Gionee Elife E6 

China-based handset maker Gionee has announced the launch of its new smartphone, the Gionee Elife E6.The smartphone, which features a unibody design, sports a 5-inch OGS(One-Glass-Solution) AMOLED display with a resolution of 1080x1920 pixels and pixel density of 441ppi. The phone is extremely thin at just 6.18mm, and weighs 128 grams.

Gionee Elife E6 is powered by a 1.5GHz Mediatek quad-core processor, along with 2GB of RAM. The internal storage offered by the phone is 32GB. The Gionee Elife E6 sports a 13-megapixel auto focus rear camera, which also includes a second generation BSI sensor, along with an LED flash and a 5-megapixel front-facing camera with a 28mm lens. Both cameras support 1080p video recording.

The phone runs Android 4.2 with its own custom Amigo UI layer. The phone is powered by a 2020mAh battery."With its intuitive and user interface, we have developed the Elife E6 with the customers' interest at heart. Supplying what is truly important to them in terms of quality, performance and affordability - all in a stylish and sophisticated design." said William Lu, Vice President of Gionee Communication.

The company claims that the Gionee Elife E6 features Heartbeat Synchronizing Technology that enables the system to synchronously wake up applications every ten minutes, reducing the number of applications wake ups improving power consumption. The phone's operating system also automatically sets a white list ensuring essential applications to be waken up at any time.It also features motion sensing features allowing users to answer phones by directly raising it up to their ears, answer calls by sweeping a hand over the screen, flip between pictures by a sweeping motion,and automatically play/pause videos when the user looks away from the screen, among other gestures. 

The Gionee ELIFE E6 is available in Black and White colour variants with matching colour cases. The phone will be available in China starting mid-July for a suggested price of CNY 2699 (Rs. 26,250 approximately). It will be available in India after August 2013, according to the company.

GTA 5 release date announced

Rockstar Games revealed the official release date for Grand Theft Auto V. The open-world crime game will hit the PS3 and Xbox 360 in September, making it one of the first big releases of the holiday season. This fall Rockstar said that they were going to release GTA V in the Spring. However, they said today that they want additional development time. Considering the hype surrounding the game, I can't blame them. There's a lot of money at stake for both Rockstar and their parent Take-Two. 

Grand Theft Auto V

Yesterday an analyst speculated that this release date would be announced next week during Take-Two's latest earnings report. However, this game's release date does seem important enough to deserve its own separate announcement. The date would've overshadowed pretty much any other information announced during the Q3 report. 

GTA V is set in the city of Los Santos, previously featured in last-gen title GTA: San Andreas. Players take on the role of three very different criminals: ex-con Michael, psychopath Trevor and former gangster Franklin. These three will team up to pull off some of the biggest heists the city has ever seen. There was no mention of the PC in today's announcement. A possible PC version has been rumored for a few months now. It would've been nice to get confirmation of that version but Rockstar wants today's focus to be on the console release date. 

Grand Theft Auto V will launch on the Xbox 360 and PS3 on September 17th. The date applies to all territories.

LG launches Optimus G Pro

 LG Optimus G Pro

LG Electronics on Thursday introduced Optimus G Pro, the newest edition of its Optimus family, priced at Rs 42,500.With this launch, the company has entered into the high-end smartphone segment ranging around Rs 40,000, eyeing a slice of the share from competitors like BlackBerry, Samsung, Sony and Apple's iPhone.The device runs on Android Jellybean v4.1.2 operating system and is powered by a 1.7 GHz Qualcomm Snapdragon 600 quad-core processor. The smartphone has a 5.5 inch full HD IPS display, which carries the DNA of LG's high definition TVs. This model has a pixel density of 400ppi, one of the highest in the market.

CPU: Qualcomm Snapragon 1.7 GHz Quad-Core 600. Dimensions: 150.2 (L) x 76.1 (W) x9.4 (D) 174g. Operating System: Android 4.1.2 (Jelly Bean)/ Optimus UI3.0 .Display: 13.97cm (5.5"). Camera: 13MP Full HD Auto Focus, LED Flash.The device has 2GB RAM and an internal memory of 16 GB.

Equipped with 4G LTE, LG Optimus G Pro has the battery capacity with 3,140 mAh with an improved 13 MP rear and 2.1 MP front Full HD camera. The smartphone boasts dual recording that captures video with both the front and rear cameras simultaneously and and virtual reality panorama feature allowing 360 degree viewing, from taking pictures of both horizontal and vertical environment.The UX features popular with Optimus G users have been added to the Optimus G pro, such as upgraded Q Slide, Live Zooming and Quick Memo. Other features in the smartphone include Q Remote, Audio Zoom, Video Wiz, Magic Remote Pad.

Soon Kwon, Managing Director, LG India said, "Smartphone market in India is growing rapidly and there is a huge demand for big screen size mobile phones. The market size for 5 inch and above screens is expected to be 1.5 million units by end of 2013. With this launch we are gearing towards our aim of capturing 10% market share of the smartphone category by end of 2014."

Nokia Lumia 1020: the 41-megapixel Windows Phone

Nokia Lumia 1020

After an unprecedented amount of leaks, Stephen Elop took the stage at the Nokia Zoom Reinvented event in New York to proudly announce the Nokia Lumia 1020 - the company's new Windows Phone 8 cameraphone flagship.The Nokia Lumia 1020's centerpiece is the 41MP autofocus PureView camera with a huge (by smartphone standards) 1/1.5" BSI sensor (slightly smaller than the 1/1.2" imager inside the 808 PureView), 6-lens ZEISS optics and optical image stabilization. It is coupled with LED flash used for video shooting and a proper xenon flash.

The Lumia 1020's optically stabilized 41MP image sensor that can snap 40MP and 5MP photos at the same time – one straight off the sensor and one after Nokia's Super sampling has been applied. The other 41MP cameraphone - 808 PureView can only shoot one or the other at a time.To make the best out of this beast of a camera, the Nokia ships the Lumia 1020 with its Pro Camera and Smart Camera camera lens apps. They'll allow advanced users fiddle with the camera settings and get the most out of the impressive shooter - there's even a full manual mode, which is a rarity outside prosumer or pro-grade cameras. At the front, there's a secondary 1.2MP wide-angle camera.

Nokia Lumia 1020 can capture videos of up to 1080p resolution and thanks to the high-res sensor it features lossless zoom. You can zoom in up to 4 times in 1080p mode and up to 6 times when shooting 720p video without sacrificing much in terms of quality. Sound is recorded in stereo and is guaranteed to be crisp and deep thanks to the two wide dynamic range microphones on board.The Nokia Lumia 1020 internals don't bring many surprises as the smartphone is powered by the same Snapdragon S4 chipset with a 1.5GHz dual-core Krait CPU as the Nokia Lumia 925. A nice addition is the 2GB of RAM and 32GB internal storage. As usual, Nokia and Microsoft have teamed up and provide 7GB of free SkyDrive storage.

You'll be able to admire the beautiful photos taken with the 41MP camera on the 4.5" Clear Black AMOLED display of 1280 x 768 pixels resolution. It is protected by the Corning Gorilla Glass 3 and features Nokia's PureMotion HD+ technology for smoother animations. Super Sensitive Touch technology is present, too, allowing you to operate the phone with gloves and nails. Nokia Glance Screen is available thanks to the Windows Phone 8 Amber update.Local Connectivity is standard and includes Bluetooth 3.0, NFC (featuring SIM-based security), dual-band Wi-Fi 802.11 a/b/g/n and GPS with Glonass support. Network support is quite wide covered with quad-band GSM/GPRS/EDGE, 42Mbps UMTS/HSPA and LTE support.

The Nokia Lumia 1020 is powered by a 2000mAh capacity and supports wireless charging via an accessory cover (purchased separately). The Finns say the phone will be able to last 16 days on standby and provide 13.3 hours of talk time. Video and music playback endurance are rated at 6.8 and 63 hours, respectively.This impressive camera module is certainly pretty large, but the Lumia 1020 isn't too bulky overall. At 130.4 x 71.4 x 10.4 mm, the smartphone is pretty much the same size as the Lumia 920, except that this time there's a large bump on the back. The Lumia 1020 is also lighter than its predecessor, tipping the scales at 158 grams.

The Nokia Lumia 1020 will be available in yellow, white and black. It will hit AT&T on July 26 for $299.99 with a two-year contract. If you want to be among the first to have it, you can pre-orders your unit starting from July 16.The Nokia Lumia 1020 is then expected to arrive in China and key European markets before the end of the quarter. Nokia plans to ship an exclusive variant of the device with Telefonica to select European and Latin American markets.

World's thinnest full-HD LCD panel for smartphones launched

As companies search for ways to make mobile devices ever-sleeker and lighter, LG Display announced Wednesday that it is coming out with what it claims to be the "world's slimmest full HD LCD panel for smartphones."

The panel is 5.2 inches long and only 2.2 mm thick. LG says that it is the narrowest full HD LCD panel to hit the mobile market. Using touch technology, dual flexible printed circuits, and a direct bonding system, LG says that the number of lines on the panel have been reduced by 30 percent and that this also allows for greater brightness.

World's thinnest full-HD LCD panel for smartphones

"Yesterday's introduction of the world's slimmest full HD LCD panel represents an exciting advancement for the high-end smartphone segment, and is possible due to our world-class expertise in IPS and touch technologies," LG Display's IT and Mobile Development Group's vice president Byeong-Koo Kim said in a statement. "LG Display will continue its commitment to developing products that maximize consumer value as well as opening new doors for the mobile and tablet PC industry."

LG is known for pushing the envelope when it comes to smartphone and tablet display technology. Last month, the company announced it was beginning the mass production of flexible and unbreakable smartphone display panels. The technology used in these bendable display screens is apparently also thinner and lighter than conventional LCD displays.

However, LG isn't the only company working on high-tech displays. Samsung, Nokia, and Apple have been working on flexible smartphone and tablet screens for years. Nokia is also working on the development of graphene for mobile devices, which is the strongest, lightest, and thinnest material on Earth.

Android 4.3 leaks in new screenshots

Android 4.3 leaks in new screenshots, features updated Camera app

Samsung dedicated SamMobile has spotted the Android version 4.3 running on Samsung GalaxyS4 Google Edition.The pictures which have surfaced contains a screenshot of the ‘About Us’ screen showing  the model number as GT-I9505G, which hints that the phone is the Google edition of the Qualcomm Snapdragon 600-powered Galaxy S4.This Android 4.3 was expected in Google I/O but Google hazed away the thing and concentrated on other things like GOogle Hangout etc.

Android 4.3 leaks in new screenshots

It also shows the phone also shows the build number as JWR66N.S005.130625 in which JWR66N depicts the Android build while S005.130625 is Samsung’s internal naming convention for test builds.

ANother picture shows the the camera app sporting updated interface with new options like controls for HDR, exposure adjustments, settings and flash, this updated apps also comes inAndroid 4.2.2 build for the Samsung Galaxy S4 and HTC One stock Android, Google edition variants.

We had earlier seen the same camera app when a Nexus 4 running Android 4.3 was spotted at the Thailand Mobile Expo, last month. So, it’s possible that the Android 4.3 will bring the updated camera app, and Samsung was given early access to include it in Android 4.2.2 build of the Galaxy S4.

Another feature which everybody is expecting is the support for the bluetooth Smart Technology. Bluetooth Special Interest Groups earlier mentioned in a press statement that Google has committed to bringing support for Bluetooth Smart to future versions of the operating system.

Sony's 18-megapixel Wi-Fi camera

Sony's 18-megapixel Wi-Fi camera

Snap away using this compact Cyber-shot camera with the power of the 18.2 megapixal Exmor R CMOS sensor for photos that are crisper and clearer. The G lens with 10x optical zoom produces superior images and with full Wi-fi capabilities, you can instantly share your high-resolution still images and movies through your smartphone and tablet or back them up on a network-connected PC.

This camera features a 18.2 megapixel Exmor R CMOS image sensor that brings out the power of the camera’s Sony G lens to deliver extremely fast speed, high resolution, and stunning low-light sensitivity with improved image clarity and drastically reduced grain.

WiFi lets you quickly upload photos and videos to social media sites through your WiFi smartphone or tablet, back them up on a network-connected PC, or view them on a large screen TV.

Record crystal clear movies at the highest resolution available with capabilities for 60i in 1080 AVCHD^™ video.^¹ This provides stunning, fast motion video with less distortion for playback on your HD TV.² With dual record of stills and movies, you can shoot both at the same time.

First Firefox OS-based smartphone

First Firefox OS-based smartphone launched

Spain's Telefonica is offering the world's first smartphone with the Firefox operating system to compete with devices running Google Android and Apple iOS.

The ZTE Open smartphone goes on sale in Spain this week for 69 euros (about $90) and will soon be available in several Latin American countries.

The device is aimed at the youth market and at people who are new to smartphones, Telefonica's chief of product development, Carlos Domingo, said during a Madrid press conference where he was joined by executives from Mozilla and telephone-maker ZTE.

ZTC Firefox OS-based smartphone

Equipped with a 3.5-inch 320x480-pixel touchscreen, the ZTE Open includes a 3.2-megapixel camera, 256MB RAM and 512MB flash storage enhanced with a 4GB microSD card that comes as part of the package.The purchase price includes 30 euros ($39) of pay-as-you-go credit.

The ZTE Open is fully integrated with Facebook and the Spain-based social network Tuenti and talks are on about incorporating the WhatsApp instant-messaging service, Telefonica said.

Commenting on the launch, Luis Miguel Gilperez, CEO of Telefonica Espana, said, "We believe that smartphones need to be more open and that the web is the platform for making this possible. Consumers should not be locked to any one system but have the choice to consume the content they want and the flexibility to be able to take it with them when they change devices. This first open web device marks a significant milestone in making this possible. This is just the beginning as we plan to bring a wide range of Firefox OS devices to our customers."

The ZTE Open is the first of a number of Firefox OS devices that will be launched by Telefonica this year, offering the benefits of this new open operating system across a range of different price points. Other device manufacturers supporting Firefox OS include Alcatel OneTouch, LG, Huawei and Sony.

Mozilla executives said the ZTE Open is the "first chapter" in what they expect to be a long project, one that is already attracting interest from many other telecommunications companies.

The HTC Desire 600

HTC Desire 600 Dual Sim

The HTC Desire 600 Dual Sim is a mid to high range smartphone that comes packed with a range of impressive features. It is wroth noting that this handset comes with a quad core processor. Like the name indicates, this is a dual SIM smartphone that supports two different GSM networks simultaneously. 

This smartphone comes out of the box with Android 4.1 Jelly Bean OS. The quad core Snapdragon S4 processor loaded in the HTC Desire 600 Dual Sim clocks up to 1.2 GHz speed. This smartphone also comes with 1 GB RAM. 

The HTC Desire 600

The 4.5-inch display screen of this device offers visuals at qHD (960 x 540 pixels) resolution. This handset weighs 130 grams and it is 9.26 mm thick. The HTC Desire 600 Dual Sim also has an 1860 mAh battery to provide back up power. 

The 8 MP primary camera of the HTC Desire 600 Dual Sim is supported by features like digital zoom, auto focus and LED flash etc. The 1.6 MP secondary camera helps in video calls. The HTC Desire 600 Dual Sim comes with 8 GB on board memory. 

Being a smartphone, the HTC Desire 600 Dual Sim comes with many entertainment features preloaded in it. This device can be customized with a range of Android apps from Google Play. When it comes to connectivity, this handset comes with NFC in addition to all the usual connectivity features. 

Samsung launches 4K Ultra HD TV for Rs. 27 lakhs

Samsung launches 4K Ultra HD TV for Rs. 27 lakhs

Samsung 85S9 Ultra HD TV comes with amazing specs and also supports 4K resolution i.e. 3840×2160 pixels. This Ultra HD TV has been launched for a not so amazing price of Rs. 27 lakh – a little cheaper than the Audi A4.4K technology will give the best output in simple words it is 4 times the resolution that you get on the 1080p TV. The Samsung 85S9 also houses 120 Watt integrated speaker. You can enjoy 4K videos and even 1080p videos that will be scaled to the desired Ultra HD resolution.

Samsung launches 4K Ultra HD TV

The 85 inch Samsung 85S9 Ultra HD TV also supports 3D content and has the ability to convert 2D content to 3D.  There is built in Wi-Fi for you can connect the TV to the net. Probably all the smart features that you might have seen on the Samsung TV will be incorporated.

Features included are built in camera (of course it has to be a front camera), gesture and voice control. You can use your smartphone as a remote. There is HDMI port (4x), built in Wi-Fi and USB ports (3x). Another great feature about the Samsung 85S9 is that it can be easily upgraded; just swap the motherboard when available and, its updated.

Price is whooping Rs. 27 lakh, yes it is. This ultra HD TV competes with BMW X1 that is priced at approx Rs. 28 lakh, the Audi A4 for approx Rs. 29 lakh and Mercedes A/B class for 21 to 23 lakh.

Apple iWatch

Apple iWatch release news

According to Bloomberg, Apple has a team of around 100 designers working on "a wristwatch-like device that may perform some of the tasks now handled by the iPhone and iPad". That's based on conversations with "two people familiar with the company's plans".
The team includes people from all parts of Apple: not just iPad and iPhone engineers but software developers, managers and marketers too.

Apple iWatch

Sounds like golden-child and knight of the realm Sir Jony Ive is the man leading the project, having ordered in     'boxes' of Nike sports watches some years ago for research purposes. Again, that's according to yet more Bloomberg's inside sources.
CEO Tim Cook even hinted at the iWatch during an investors' meeting in February 2013. Well, he told investors that "obviously we're looking at new categories" which is the same thing, right?