Apple is again being tipped with the development of a smart watch, with the New York Times the latest to report that an 'iWatch' project is part of the Cupertino-based firm's ongoing plans.

Citing "people familiar with the company's explorations," the Times claims that Apple is currently "experimenting" with watch-like devices running a stripped down version of its iOS platform.

The report tips the iWatch to feature Corning's flexible Willow Glass to help it wrap around the user's wrist, with navigation, contactless payments and communications thought to be among the future contraption's uses.

"You can certainly make it wrap around a cylindrical object and that could be someone's wrist. Right now, if I tried to make something that looked like a watch, that could be done using this flexible glass," noted Pete Bocko, Corning's chief technology officer.

In addition to the Times, the Wall Street Journal has also jumped on the iWatch bandwagon, saying that Apple is currently discussing production scenarios with Chinese manufacturing partner Foxconn.

An Apple iWatch was rumoured back in December 2012, with speculation pointing to a Bluetooth-enabled device with a 1.5in touchscreen display and Siri functionality. 

For more, check out 'The iWatch: Apple's next big gadget?' blog.

Concept image credit: ADR Studio (Antonio De Rosa) via Concept Phones.