Apple is said to be experimenting with the design of a watch that would operate on the same platform as the iPhone.
The New York Times said the device could use Willow Glass, a new type of flexible glass, which would allow it to have a curved touchscreen, citing 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, 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.