Apple Inc. (NASDAQ:AAPL) is reportedly working on a new health-tracking product to be launched next year, according to a report published in Apple Insider. Citing Taiwan’s Economic Daily News, the publication reported that the tech giant is finalizing suppliers for its new hardware, on which the company’s health-focused development team have been working for more than two years.
Mysterious Health-Tracking Hardware
The report suggested that the U.S. tech giant is talks with Taiwan Semiconductor Manufacturing Co., Foxconn, TPK, Zhen Ding Technology and others for its new health-tracking hardware. According to the rumor, the company wants to build a new product that can “accurately collect users’ personal daily life including heart rate, pulse, blood sugar changes and other information.”
The report noted that Jay Blahnik, director of fitness and health technologies for Apple Inc. (NASDAQ:AAPL), is also engaged in developing this mysterious new product.
The new health product – still unclear whether it will be wearable or standalone — will feature Apple’s pressure sensing 3D Touch technology, introduced in the iPhone 6s. The report suggested that this technology is going play a vital role in the new product, which could “set off a new whirlwind” within the technology industry.
Japanese website Macotakara, which was the first to discover the report, suggested that the iPhone maker has developed a “revolutionary idea” with this new product.
As we don’t know yet about the form of the new hardware, the reports suggest that it won’t be at least a more advanced version of the iWatch.
“One concept that’s been tossed about are smart band accessories, optional add-ons for the Apple Watch that could add advanced functionality going well beyond the capabilities of the device itself, measuring blood oxygen, respiratory rate, blood pressure, and body temperature,” according to Apple Insider.
Apple Focusing On Healthcare Market
Apple is betting big on the healthcare market. The company has been expanding its healthcare team over the last few years. It has tapped doctors, researchers and fitness experts to its team to build new capabilities in the Apple Watch as well as to develop platforms like HealthKit, ResearchKit and CareKit, according to Apple Insider.
But the company seems reluctant to disclose its plans about the digital health market.
Business Insider reported that the company is quietly building one of the strongest teams in digital health. In June, the company added Stephen Friend, co-founder and president of Sage Bionetworks, to its healthcare team. The firm said at that time it had “nothing more to share about his role or title.”
It appears that the tech giant has long-term plans for the healthcare market. Earlier this year, CEO Tim Cook said the company had “massive interest” in the health world and that the healthcare space is “ripe for simplicity and a new view.”
Earlier this year, the company posted a job listing for a lawyer who focused on medical privacy and could consult on possible acquisitions. The company said in the job post that it is seeking a lawyer with expertise in the U.S. Health Insurance Portability and Accountability Act.
In other news, Russia’s state competition watchdog is probing Apple Inc. (NASDAQ:AAPL) for iPhone price fixing after a complaint from a consumer who said retailers had set identical prices for iPhone 6s and iPhone 6s Plus models at 16 major resellers. The company is expected to come up with new upgraded products as fall approaches. So, it would not be wise to buy any new Apple product now, suggests a Business Insider report.