Apple reported the best quarter in its history, with US$74 billion in revenue and US$18.5 billion in net profit. CEO Tim Cook also announced the release date for the Apple Watch.

The date is a few months later than expected, and leaked internal documents show Apple preparing for the launch in early spring.

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Cook didn't give a specific date and it wouldn't be a shock if Apple holds off from announcing anything else until very close to launch due to potential complications on the retail and distribution side.

Apple Watch will be available for US$349. It will have an aluminum shell but Apple will offer a stainless steel option with leather or metal bands. There will also be the 'Apple Watch Edition', an 18-karat gold option potentially costing US$10,000.

Apple hired Burberry CEO Angela Ahrendts for retail and online sales before the Apple Watch launch, giving the company an eye into the fashion industry, alongside Swiss TAG Heuer director Jean-Claude Biver.

Analysts have mixed opinions of the Apple Watch. Some claim it will bring the wearables market into the mainstream.

Even without massive sales in 2015, Apple will still do fine thanks to the growth of its iPhone business in Asia, which sold 74 million units in this Q1.

TagsApple Watch, Tim Cook, smartwatch, wearable