NEW YORK (Reuters) - Apple Inc.
The article cited unnamed sources "familiar with the company's explorations".
The watch-like product that could be used to make mobile payments is currently in the experimental stage and would operate on Apple's iOS platform, which is the foundation of its iPhone, iPad and iPod Touch consumer devices, the Times said.
An Apple spokesperson did not immediately return a call for comment.
The Wall Street Journal separately reported that one person briefed on the effort said Apple discussed such a device with its major manufacturing partner Hon Hai Precision Industry Co <2317.TW>, also known as Foxconn, which has been working on some technologies that could be used in wearable devices.
The Taiwan-based company has been working toward making more power-efficient displays and its technologies are aimed at multiple Foxconn customers, the Wall Street Journal reported, citing the same person.
(Reporting By Marcy Nicholson; Editing by Nick Zieminski)