Were you one of the tens of thousands that backed the Pebble Watch (pictured above) on Kickstarter? Well, congrats because it looks like Apple and Intel have taken the hint.

With more than $10,000,000 pledged over the initial asking price of $100,000, it’s not secret now that there’s an untapped demand for a smart watch that can wirelessly augment your smartphone experience. Chinese site TGBus is reporting that Apple and Intel are working on their own version of this emerging product, with a launch date as early as this year.

The watch reported includes a 1.5-inch OLED display and will use Siri to further integrate it with Apple’s iPhone.

The Pebble Watch has yet to ship, and if this rumor is true — a smart watch officially developed by Apple — it would be an understatement to say that the Pebble team needs to hurry up.

[via MacRumors]