Apple iWatch

NEW YORK 

Rumors are growing louder that Apple is creating an "iWatch," but established smart watch makers like Pebble aren't worried.

In fact, they're pleased that the world's largest technology behemoth is potentially encroaching on their territory.

"The more people are looking at smart watches, the more they might look at Pebble," says Pebble founder Eric Migicovsky.

Smart watches, which typically connect via Bluetooth to smartphones and often offer their own slate of apps, are currently a huge trend in hardware.

Pebble smashed through records last year by raising a whopping $10 million on the crowdfunding site Kickstarter. After Pebble became a sensation, many others followed in an attempt to catch onto the smart watch craze. Four of the top 5 SNE) and Google's (GOOG, Fortune 500) Motorola have jumped in with their own techie takes on the wristwatch.