Apple is scheduled to debut its iWatch next week and it seems the company is firm at marketing it as another one of its heftily priced devices.

Technology website Re/Code said although Apple, Inc. won't be ready with the smartwatch until next year, the company has already set US$400 as the device's retail price.

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That's a lot expensive, especially considering Samsung's Gear 2 Silver smartwatch only retails at around US$300 while other Android-based smartwatches go for less than US$200.

It's unclear if the price for the iWatch will be announced during the launch.

Citing different sources knowledgeable about the iWatch, Re/Code said Apple will more likely release various models of the wearable device at different prics.

Despite smartwatches already available to the public, the launch of the iWatch is seen by many as the smartwatch's entry into the mainstream market. 

Consumers still deem smartwatches as "optional" rather than "must-have." The iWatch might just change this perception.

If Apple manages to integrate style and functionality as it always does, the US$400 price won't be an issue for customers, especially those that are loyal to the brand.

The iWatch, or whatever Apple wants to call the device, is expected to marry the look of a luxury wristwatch with the features found in the iPhone and iPad. These features are expected to be reconfigured for the wrist and integrated with iOS 8, which will be introduced this fall.

The iWatch will also be integrated with Apple's Health and Home platforms to track a user's fitness levels and control certain parts of the home.

The iWatch is set to be revealed on September 9.