Mikey Campbell:

Kuo believes Apple is planning to launch two new Apple Watch versions in the second half of 2016, both of which offer moderate improvements over their predecessor. The first unit will be an iterative upgrade on the original Apple Watch and is expected to sport the same aesthetics, but with improved intervals like a TSMC processor built on the 16nm process. Waterproofing should also be slightly improved.

I wonder how they will differentiate the two. They could upgrade the Sport model slightly, while offering the bigger upgrades for the steel Apple Watch, or decide to run two different lines with a total of twelve models (assuming the gold Watch will stick around), or stick to only one size.

Whatever happens, this first upgrade cycle will be interesting to watch (pun not intended).