After months of speculation and tantalizing rumors, we finally have more credible proof that Apple is indeed working on a smartwatch. In a new in-depth profile about CEO Tim Cook, lower-level employees of the company mentioned the device and provided some insight as to the watch's possible release date.

Saying he's less hands-on than Steve Jobs in developing products such as the iWatch, people involved in the project told The New York Times that Cook delegates finer aspects of product engineering to members of his executive cabinet.

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That includes Jony Ive, senior vice president of design. MORE: 10 Killer Features for Apple's iWatch

Cook himself seems more interested in the bigger picture, in terms of wanting the smartwatch to monitor heart rate and other biometrics, according to the same people. They also expect the watch to be released in the fourth quarter.

This is the most credible report we've seen discussing the rumored iWatch. Other speculation points to the device syncing fitness data with the new Health app in iOS 8. The device may also sport a curved OLED display and support wireless charging.

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Apple is expected to unveil a slew of devices later this year in addition to the possible iWatch, including the hotly anticipated iPhone 6.

In fact, Apple executive Eddie Cue boasted in late May that the company has the "best product pipeline" in 25 years.

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