Reuters is out with a report today that claims the iWatch is going into production this month for a launch in October. The device is reportedly expecting to hit 50 million units produced in its first year.

The source said Apple expects to ship 50 million units within the first year of the product’s release, although these types of initial estimates can be subject to change. The watch is currently in trial production at Quanta, which will be the main manufacturer, accounting for at least 70 percent of final assembly, the source said.

Seeing that Apple sold 71 million iPads in the entirety of 2013, 50 million units sounds aggressive. The site also shares some features that it has learned about the device:

Apple will introduce a smartwatch with a display that likely measures 2.5 inches diagonally and is slightly rectangular, one of the sources said. The source added that the watch face will protrude slightly from the band, creating an arched shape, and will feature a touch interface and wireless charging capabilities.

Many of these features, including the wireless charging and the beyond obvious touch interface, have been earlier reported. Additionally, the report says to expect that the device will have sensors capable of measuring a user’s pulse. We have been reporting since last year that Apple is working on a smart watch/fitness band that packs sensors such as a pulse reader.

The 2.5-inch screen size is interesting as that size is a large departure from the ~1.5-inch figures indicated in several iWatch-related reports from over the past year. That screen size is the same as the screen on the current-generation iPod nano, while the earlier rumored size is the same as the screen on the watch-like 6th-generation iPod nano.

The iWatch will ship alongside iOS 8 and around the same time as new iPhones, and iPads. We previously detailed how iOS 8 could play heavily into the feature-set of a wearable device. It is highly likely that the iWatch will integrate heavily into Apple’s new health-tracking software in iOS 8. 

A report from earlier this week claimed that Apple is having some production problems with the iWatch’s OLED display, but that the screen issues were likely to be resolved. That same report is expecting a price point of approximately $350, but some analysts have been predicting price points in the range closer to thousands of dollars. Apple has been rumored to be working on multiple iWatch sizes, but there have not been any recent indications of that.