Apple's next big project: a head-mounted display?

Now that the iPad is almost in stores, Apple's skunk works is certainly hard at work on the company's next "magical and revolutionary" product. We now may have a clue what that is.

A leaked internal memo reveals a head-mounted concept. Curiously, it appears to cover only one eye, kind of like a Vuzix monocle. Design notes reveal it's engineered to allow the user to watch movies and shows from an iPod or iPhone while keeping their player in their pocket

The working name is the "iPatch," most likely because of its resemblance to its swashbucklin' kin. No word on when it will be on shelves — or even officially revealed — or what kind of price we can expect.

Via iPhone Rumors