A new report from KGI’s Ming-Chi Kuo sheds some interesting light on the iWatch specifications. Kuo believes the iWatch will feature 8 GB of internal storage, with 512 MB of RAM. Naturally, these stats are lower than current iOS devices (which have upwards of 16 GB of storage and 1 GB of RAM), but still seems high for a wearable smartwatch. This may suggest the device can act more independently from an iPhone than most assume. 8 GB of storage space is quite a lot and could be used for things like caching maps, or perhaps enable offline voice recognition.

KGI also believes the iWatch will come in two sizes, with a 1.3 inch and a 1.5 inch screen. This reflects longstanding rumours that Apple is targeting two sizes, to make it appeal to both gender’s fashion preferences. Kuo seems less sure on what materials will make up the product, but ‘guesses’ aluminium based on Apple’s tendencies to use the metal across its products. There is also mention of a gold color option, which would match with the iPhone 5s and iPhone 6’s gold varieties.

Quelling some rumors that Apple would follow the Moto 360 to use a circular display, Kuo says it expects a rectangular face. To go along with HealthKit, Kuo expects a number of “holes” on the back side of device will measure vital signs and other fitness characteristics, like heart rate.

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The bad news is that Kuo does not expect the iWatch product to ship until 2015, as mass production is yet to begin. Kuo speculates that Apple is announcing earlier, at its event on Tuesday, to fuel developer interest in the device to help establish a strong ecosystem of supporting applications when it is eventually released.

Kuo also commented extensively on the iPhone 6, claiming that the device will have 128 GB options, a barometer sensor and a ‘programmable power button’ (which is now located on the side of the device).