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Apple Smartwatch Out of 'Experimentation Phase': Report

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Apple now has 100 product designers working on a watch that may run on the same software as the iPhone and iPad, signaling that the company is past the experimental period in creating the new device, according to a recent report.

(Read More: iWatch in the Works? Apple Experimenting With Smartwatch )

The team working on the smartwatch has grown over the last year and consists of not only software and hardware engineers, but managers and marketing employees who also worked on the iPhone and iPad, according to sources cited in a Bloomberg report.

Apple CEO Tim Cook hinted that the company was dabbling in new technology at the Goldman Sachs Technology and Internet Conference on Tuesday when he said: "I've never been more bullish on innovation."

(Read More: Apple's Cook Calls Einhorn Lawsuit 'Silly Sideshow' )

Apple did not immediately respond to a request for comment.

(Read More: Einhorn Fires Back at Apple's Tim Cook )

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