Apple's Watch is designed to be both fashionable and functional.
Apple Ordering Components and Flash RAM for New iPhone?
Meanwhile, DigiTimes claims that Apple has already placed orders for 100 million 8 Gigabit NAND Flash chips (mostly) from Samsung Electronics. This large order could tighten worldwide supplies of Flash memory.
While the iPhone was not specifically cited as the reason for the large order, the timing seems to correspond to rumors of a new iPhone refresh this summer.