Apple's long-rumoured wearable device could cost around $400 when it is released.

As Digital Spy said citing Re/Code, Apple executives are discussing a number of prices for a variety of potential models, which may include lower-priced versions.

It was recently reported that the company could unveil an iWatch alongside the iPhone 6 on September 9.

However, the device is not expected to be available to consumers until early 2015. The exact pricing may also be withheld until next year.

A $400 price tag would make the iWatch more costly than current smartwatches on the market, which vary from $150 to $300.

The smartwatch is expected to ship with an extra-durable sapphire glass display, and come with a range of environmental and biometric sensors to cater for fitness enthusiasts.