Apple is reportedly in the process of developing a new screen-less fitness tracker that could challenge tech firm Whoop, whose valuation recently hit $10 billion.

The tech giant is currently investigating the product’s feasibility as part of a technology exploration phase. Prototypes have already been developed, and the device, described as a thin fabric band with a sensor-equipped computing module, is expected to hit the market by at least 2028.

Apple already offers the Apple Watch, which records workouts, heart rate, and sleep among other metrics. However, the new form factor would be more akin to Whoop’s simple fitness bands, which track a variety of health metrics.

The report comes at a time when Apple is experiencing significant changes and challenges. Tim Cook has stepped down as CEO to become executive chairman, with John Ternus taking the helm. The company is also facing rising costs due to a memory shortage and is engaged in litigation against OpenAI over alleged trade theft, as the tech industry battles to build the best hardware for the AI age.