There may be three different iWatch models on the way from Apple (AAPL)

Bold claims were made today by the Economic Daily, a Taiwanese news service, that Apple Inc. (NASDAQ:AAPL) is not only on course for a Q3 2014 iWatch retail release, but that three models of the new form factor will be available immediately upon the smartwatch’s launch. As reported by G for Games, Apple is planning a budget version of the iWatch with a 1.6 inch diameter, and two models with 1.8 inch diameter faces.

The two 1.8 inch models will differ, first and foremost, in the material used for the display cover. The Economic Daily asserts that the top-end, elite model features a sapphire crystal display, and is known as either the “Sapphire Edition” or the “Gemstone Edition,” depending on how one translates the Daily’s words into English. Presumably, this means that the other 1.8 inch model and the 1.6 inch model will feature displays fashioned from Gorilla Glass or something similar.

The “Gemstone Edition” (as we will unofficially refer to the 1.8 inch model with sapphire display, for clarity) is likely to be the variant aimed at the prestigious watch market, and to be associated in some way with Swiss watches via Apple’s recent hiring of Patrick Pruniaux, a highly experienced Swiss watch sales executive.

The Economic Daily also flatly contradicts the claims of Ming-Chi Kuo, the KGI Securities analyst whose flamboyant declarations about Apple’s (AAPL) product releases frequently catapult him into the news, that the iWatch and other Apple products may be delayed until November 2014 or even early 2015. The Daily states that all releases are on time and all three iWatch models will debut in 2014’s third quarter.

Of course, there is no concrete evidence to support either Mr. Kuo’s argument or that of the Economic Daily. Each claims reliable insider sources, and only the actual event will prove which assertion is correct.

The Taiwanese news site further claims that TPK Holding Company, Ltd., is to produce the touch sensors for all models of iWatch. The firm will utilize silver nanowire ink, a next-generation touch technology that is capable of precisely detecting touch location even through sapphire crystal. This capability exceeds that of the current touch sensor material, indium tin oxide or ITO, which has been used in all touch sensors up to this point in time.

This is exciting news for investors, as a third quarter iWatch release could well boost Apple’s (AAPL) share value notably. Furthermore, the use of silver nanowire ink and sapphire crystal displays is another sign of continuing technological innovation on Apple’s part.