iWatch Could End IPod line up.

The iPod's best days are likely behind it, and with an Apple iWatch rumored to be on the way later this year, some believe the music player is done for. (Photo : REUTERS/Mario Anzuoni )

The highly-anticipated release of the Apple smarwatch, dubbed the iWatch, could signal the end of days for a previous hot-selling Apple device—the iPod, MacRumors reports. 

Christopher Caso, an analyst with Susquehanna Financial Group, recently expressed in a research note that the iWatch will finally touch down on consumers' wrists in Q4 of 2014 with two screen sizes. Caso estimates 5-6 million iWatch units will be produced, but that it will "essentially replace the iPod in the consumer portion of AAPL's product lineup" and force lowered iPod sales.

Caso, who said that the iPod is not expected to be updated in 2014, is not alone in his sentiment.

Apple CEO Tim Cook also admitted earlier this year that the iPod "is a declining business," as sales dropped to under $5 billion in 2013 after peaking at more than $8 billion in 2008.

The iWatch is also being tied to LG for supply of the device's flexible displays, Korean publication Naver reports.

A previous report published in January tipped LG as sole provider for the iWatch's 1.52-inch plastic OLED display.

Now, Naver reports that Apple is planning on releasing the smartwatch with two display sizes—1.3 inches and 1.5 inches, which 9to5Macnotes falls in-line with previous rumors that the iWatch would launch with different sizes for men and women.

According to Naver, Apple has plans to sell 9 million iWatch units and has circled a late 2014 release date, which would mean consumers could see big unveilings of the iWatch and the next iPhone and iPad updates by Q3.

The report follows recent comments about the smartwatch's price from Cowen & Co. analyst Timothy Arcuri.

In an investors note published last Friday, Arcuri said he believes that health insurers will subsidize the iWatch, giving it an average price of just $250.

“We continue to believe it is possible the product (iWatch) is backstopped by some sort of insurance subsidization model similar to the carrier subsidization model for the iPhone,” said Arcuri.

The Cowen & Co. analyst also speculated that the smarwatch will release in September (possibly alongside an iPhone 6 model) in time for the holiday shopping season, packed with features that will separate it from the rest of smartwatch market.

"We continue to feel this product will differentiate itself with existing wearable products primarily from a health perspective with a number of key innovations including noninvasive blood cell count and blood pressure and other more pedestrian features like heart rate," he said.