Benzinga | Jun 14, 2021 08:11AM EDT

Apple Is Developing Smart Watch With Temperature, Sugar Measuring Functionalities: Bloomberg

* Apple Inc (NASDAQ:AAPL) is developing the likely Apple Watch Series 7 with a faster processor, upgraded wireless connectivity, and an updated screen, Bloomberg reports.

* It plans to update the leading Apple Watch, the cheaper Apple Watch SE successor, and a new version of extreme sports athletes.

* Apple had postponed the body temperature sensor to the 2022 update. The blood-sugar sensor also got delayed for several more years.

* Apple tested thinner display borders and a new lamination technique for the 2021 model that brought the display closer to the front cover. It will include updated ultra-wideband functionality that was responsible for operating the Apple AirTag item finder.

* Apple recently previewed the upcoming watchOS 8 software update to let the device unlock doors and hotel rooms.

* The extreme sports model is more likely for a 2022 launch and aims to compete with the likes of Garmin Ltd (NASDAQ:GRMN) and Casio Computer Co Ltd (OTC:CSIOF) (CSIOY).

* Luxshare Precision Industry Co. is the primary assembler for the leading Apple Watch. Foxconn Technology Co Ltd (OTC:FXCOF) shares some of the orders apart from sharing the Apple Watch SE assembly with Taiwan's Compal Electronics Inc (OTC:CMPCY) (OTC:CMPFF).

* The addition of the body temperature measurement functionality to the watch via small digital thermometers that plug into a smartphone's charging port could intensify competition with smartwatches, and fitness bands, including Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), owned Fitbit.

* Apple is also aiming for a non-invasive solution to analyze blood sugar through the skin.

* Apple Watch, iPhone, and iPad helped produce revenue over $30 billion under Apple's broader wearables, home, and accessories category in FY20.

* Price action: AAPL shares traded higher by 0.42% at $127.88 in the premarket session on the last check Monday.

* Image Courtesy: Wikimedia