Apple executives have been mum about the rumored iWatch, but, as usual, news out of the company’s contractors indicate that it is on its way. Apple CEO Tim Cook has alluded to “new product categories” this year, which is enough of a tease to breathe life into the iWatch rumor mill.

According to the UK Telegraph, production on Apple’s first wearable is slated to begin in July. The iWatch specs allegedly include a 2.5-inch rectangular screen made by LG, and features 10 sensors to monitor its user’s heart rate and other health metrics.

The iWatch – the name has not been confirmed by Apple – is said to be in trial production in Taiwan, at Quanta Computer Inc. It will be mass-produced starting next month and shipped in time for a possible October launch, UK Telegraph reports, citing rumors.

Quanta and Singapore-based sensor manufacturer, Heptagon, are among a number of  Apple suppliers on the long-awaited iWatch, which would sync with iOS 8 and Health, the new app released by Apple to collect and process user’s fitness and health data. Another supplier is GT Advanced Technologies, with whom Apple has opened sapphire glass plants to produce the synthetically grown crystal used in iPhone 5S.

With Samsung, Google, HTC, LG and Motorola releasing or planning to release wearables, industry analysts are closely watching Apple, as its entry into the market could be similar to how it disrupted the industry with the iPhone in 2007 and iPad in 2010.

“Apple has a remarkable track record of being able to take an existing category and make it a mainstream phenomenon,” Ben Wood, chief of research at CCS Insight, told the UK Telegraph. “It will be hoping it can once again work its magic in the wearables space and succeed where others have failed to make a sizeable impact.”