The Apple Watch's hardware specs have allegedly been leaked ahead of the device's launch early next year.

Cowen and Company analyst Timothy Arcuri claims to have heard from supply chain sources that the wearable will pack 512MB of RAM and offer 4GB of internal storage, Digital Spy reports citing Apple Insider.

Should the report prove accurate, the Apple Watch will arrive on the market with roughly the same firepower as Android Wear-based rivals the Samsung Gear 2 and the LG G Watch R.

Arcuri went on to say that the Apple Watch uses a similar wireless chip to the iPhone 5S, although this seems unlikely given that the handset includes a GPS radio, and the wearable requires smartphone syncing to use GPS.

The industry expert also speculated that Apple could announce an 8GB version of the device between now and its 2015 launch.

Previous reports suggest that the Apple Watch will need to be charged daily, but Apple is yet to divulge full specs details for the product.