Apple could launch its own version of Tile to help you find lost items

It looks like Tile is about to get some competition.

Apple is working on its own Tile competitor, which will utilize iPhones to help people track their personal items, according to a new report in 9to5Mac.

The new gadget, which Apple could show off this fall, is similar to Tile's popular Bluetooth tracker. It's a "tag that can be attached to any item," according to 9to5Mac, and is tied to your iCloud account. Apple's trackers will rely on your iPhone for location data, and you can receive push notifications if you become separated from the item.

Other features sound much more advanced than what you get with Tile. Apple's trackers will save your contact information, and if you put the tag in "lost mode," anyone who finds it can use an iPhone to get your info.

You'll also be able to share location data for specific tags with friends and family members. "Apple wants to leverage the vast amount of active Apple devices to create a crowdsourced network that helps its users find any lost item, by using this new hardware product," 9to5 reports.

Additionally, Apple is planning a new app that combines "Find My Friends" and "Find My iPhone," which will be able to help track your devices even if you're not using the new Bluetooth tags.

If Apple does end up launching such a product, it could spell bad news for Tile, which makes popular Bluetooth trackers. Though the company has a significant head start on Apple, the Cupertino giant would likely be significant competition for Tile. Tile didn't immediately respond to a request for comment.