Apple's long-rumored iWatch may have hit a rough patch which could push production back a few months. In a recent research note, renowned KGI Securities analyst Ming-Chi Kuo revised a previous estimate on production of the smartwatch citing complex hardware and software engineering.

As a result of delay, Kuo also lowered his company's forecast of iWatch shipments by 40 percent to three million units this year.

The analyst also provided some information as it relates to what he expects to see when the fabled device is finally unveiled.

For starters, Kuo expects to see Apple use a flexible AMOLED display which would allow the screen to take on a curved shape not unlike what we've already seen from smartphones like the LG Flex or the Samsung Galaxy Round.

As we're likely to see on the iPhone 6, Kuo also believes the iWatch will ship with a sapphire crystal display cover. The wearable may additionally arrive with higher waterproof standards than we've seen on other mobile devices and even a new set of system-on-chip components. The latter certainly seems plausible for a number of different reasons.

Sure, Apple could simply transplant the A7 into the device but such a move might not make much sense. Will the iWatch need that much processing power or would it be overkill and a detriment to battery life? Would it physically fit inside the watch alongside the other components, sensors and battery that Apple wants to include?