Apple is considering a $400 price tag for its upcoming wearable

Apple executives have discussed charging around $400 for the company’s new wearable device. Pricing has yet to be finalized for the forthcoming product, which is expected to begin shipping next year. Sources say consumers should expect a range of prices for different models including lower priced versions. It is not immediately clear if the price will be settled in time for Apple’s Sept. 9 press conference when it is expected to introduce the new iPhones and announce a wearable device. Apple declined to comment. The introduction of a wearable product would mark Apple’s first entry into a new device category since the 2010 introduction of the iPad. As with tablets, Apple aims to redefine an existing, albeit young, category currently populated by Jawbone and Fitbit, which make fitness bands, and other smartphone makers Samsung, LG, Motorola and Timex, which have waded into the burgeoning smart watches business. The prices under discussion would put Apple’s device at the high end of the category with Samsung’s Gear 2 Silver smart watch costing about $300 and Google-powered devices fetching around $200. Timex’s upcoming Ironman One GPS+ watch carries a $400 price tag and comes with its own 3G wireless connection.