Apple currently sells a Product Red iPhone 11, iPad touch and several accessories such as cases as part of its longstanding partnership with the AIDS charity Red. It has never produced a red Watch, though it would surely sell well.
The report says the Watch would likely be the entry-level aluminium Watch. The latest Series 5 Apple Watch comes in aluminium and more expensive stainless steel, titanium and ceramic models that don’t add any additional functionality.
It might make sense for Apple to release a red Apple Watch mid-cycle to keep interest (and advertising) hot for its wearable. If it is to pass, it might debut with the rumoured iPhone SE 2 in March when the company is rumoured to hold a hardware event.
It’s also expected that Apple will update its iPad Pro line at this event.