Apple is reportedly looking to enter the wearables market with the launch of a smart watch in October, intending a production run of three to five million devices per month in its initial production run.

Nikkei sources, including an unidentified parts supplier, said specifications for the device are being finalised but it is believed that it will have a curved OLED display and sensors to collect health data, including blood glucose, calorie consumption and sleep activity.

Apple pushed the health angle when it unveiled details of the forthcoming iOS 8 last week. The HealthKit API is pitched as providing “a single place that applications contribute to a composite profile of your activity and health”.

Along with the API, Apple’s Health app will monitor health data, such as calories and sleep patterns, and can be integrated with third party apps such as the Nike+ fitness app.

The Health app is also able to communicate with hospitals if certain metrics, such as blood pressure, are outside the healthy parameters defined for individual users.

Rumours that Apple is working on a smart watch have been circulating for some time, especially as fierce smartphone rival Samsung has been developing its Galaxy Gear line. Sony, LG Electronics and Qualcomm have also been active in the smart watch area.

Apple CEO Tim Cook (pictured) has previously promised that the company will move into “new product categories” in 2014, which many have taken as referring to wearables.

“In terms of new product categories, specifically if you look at the skills that Apple has from hardware, software and services, and at incredible app ecosystems, these sets of things are very, very unique,” the executive said last year.