Apple is looking to boost its presence in the wearable tech sector by introducing smart glasses. The company is allegedly in the exploration phase of developing a Google Glass-type of wearable device. The device is expected to be connected wirelessly with an iPhone to project information in the wearer's field of vision.

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Apple is currently dealing with slumping sales of its iPhone. The sales volume of other Apple products is also showing the signs of stagnation. Apple CEO Tim Cook is likely to focus on Augmented Reality to delivering new blockbuster products.

During the company's conference call earlier this year, Cook said, "We are high on AR for the long run. We think there are great things for customers and a great commercial opportunity." With the rumored smart glasses, Apple would be able to materialize its vision about AR.

However, the company has not released any details about the project. There is no information about the likely price tag of the glasses. The release date for these smart glasses is also not available. However, Apple has allegedly talked with potential suppliers and that the product could be launched by 2018.

The project also has several hurdles. Google had already dabbled in the area with its Google Glass. However, the product failed to take off in the market. Apple is also having troubles developing certain niche sectors as it recently restructured its secretive autonomous car division.

Tech companies are currently leaning towards Virtual Reality. Major companies such as Google and HTC are working to develop VR headsets. However, Apple is likely to maintain its focus on AR.