Technology news website Re/code has revealed in a recent report that the much-rumored Apple iWatch wearable device - which will likely be unveiled by the company at its forthcoming September 9 event - will be price at approximately $400.

The price-tag being mulled by Apple for its iWatch smartwatch marks a continuation of the company's strategy to charge an exorbitant premium price for its products. In comparison to the project pricing of the iWatch, the currently-available smartwatches are mostly priced in the range of between $250 and $350.

Nonetheless, the premium price which Apple is expected to charge for its iWatch will probably be not much of an issue if the company comes up with a product that successfully amalgamates style with functionality.

Meanwhile, along with projecting the hefty $400 premium price at which Apple will likely sell its iWatch, the Re/code report also said - on the basis of details shared by unidentified sources - that the iWatch may possibly be released by Apple at different price points.

The iWatch will mark Apple's foray into the wearable devices arena; and is expected to hit the markets in 2015. The imminent launch of the iWatch is widely being considered the crucial event which is apparently required for making wearable devices mainstream.