Would YOU pay $400 for the iWatch? Apple's wearable tech will cost significantly more than its competitors, reports claim

Speculation about Apple’s smartwatch has been circulating for years but its reveal date is now being tipped for next Wednesday.

However, those Apple fans anxious to get their hands, or wrists, on the device may be facing an expensive bill when it goes on sale in 2015.

Reports from Recode claim Apple executives have discussed charging $400 for the upcoming device - a third more expensive than Samsung’s current high-end model.

This would put Apple’s iWatch at the high-end of the smartwatch market - a strategy that mirrors the firm’s approach to its iPhone business.

By comparison, Samsung’s Gear 2 costs $299.99 in the US (£249 in the UK) and the Moto 360 is expected to cost $249.99 (£149).

Last week, Samsung launched its curved S watch, but didn’t announce how much it would cost.

Apple’s biggest rival could be waiting to see how much the iWatch will cost, if it is unveiled next week, before setting its own price.

By comparison, Samsung’s Gear 2 (pictured left) costs $299.99 in the US (£249 in the UK) and the Moto 360 (pictured right) is expected to cost $249.99 (£250 in the UK) when it launches later this year