Apple may indeed be working on a smartwatch but one of their closest partners, Foxconn, has beaten them to the punch. During a recent shareholders meeting, the company demoed a new smartwatch that is able to connect to an iPhone wirelessly and display incoming call information as well as posts on Facebook according to Want China Times.

Other features reportedly include the ability to monitor the wearer's heartbeat, respiration and other vital statistics. In the event that something is awry - perhaps your heartbeat is a bit too rapid - the device can even offer up some steps to take to get things back to normal.

That's just the start, however, as Foxconn chairman Terry Gou said the company plans to tap into their wireless and medical research divisions to add fingerprint recognition to the watch. The addition will allow users to monitor personal health in greater detail.

One has to wonder what Apple makes of this news as most believe Foxconn is a key partner in the manufacturing of their rumored iWatch. Just last month, a rumor surfaced claiming Foxconn had accepted an order to produce a trial run of 1,000 smartwatches from Cupertino. We still have no idea when that rumored watch will debut and Apple probably isn't in any great hurry to rush it to market.

No word yet on when the Foxconn timepiece will hit retail outlets or how much it will cost.