Two new rumors surfaced today courtesy of Taiwan's DigiTimes. The first rumor claims that Apple reportedly has plans to form a new Research and Development team responsible for developing next generation baseband processors for use in their 2015 iPhones. Apple recently hiring two former Broadcom engineers give this rumor some credibility. The second rumor that comes second hand from China's Economic Daily News claims that Apple is developing the iWatch processor in-house and is set to begin production this August. Whether this latter rumor is really describing an iWatch or other wearable-computer is unknown at this time. However, other industry rumors that have surfaced this year would suggest that an "iWatch" won't be ready in this time frame. That being said, we've added a translation of the Chinese rumor report about the iWatch for your convenience.