Apple is expected to unleash a new smartwatch this year, packing a faster processor, better waterproofing, a larger battery and more.

The next-generation smartwatch from Apple, presumably called the Apple Watch 2, is expected to land later this year with a number of notable upgrades, but mainly the same design as the existing model.

Apple has yet to make any comments or announcements regarding its plans for a new Watch, but AppleInsider and MacRumors obtained an investors note from well-connected and trusted analyst Ming-Chi Kuo of KGI Securities, offering a few clues as to what to expect from the Apple Watch 2.

According to Kuo, Apple may be working on two smartwatch models for this year. The version dubbed the Apple Watch 2 would come as the bigger upgrade, sporting beefed up internals but otherwise "the same general design" as the existing Apple Watch. The upgraded internals would include a thinner display, a barometer, a GPS radio and a faster 16-nanometer processor from TSMC. As this upgraded hardware would take a toll on battery life, the Apple Watch 2 is also expected to back a larger battery, which in turn would limit Apple from making the device smaller despite the thinner display.

The second Apple Watch variant scheduled for this year, meanwhile, would pack more minor upgrades, sporting some updated internals but the same industrial design. The barometer and GPS may not make it to this version. Price-wise, this model may add more affordability to the line.

Aside from these two 2016 Apple Watch models, Apple is also expected to launch a more powerful smartwatch next year. A similar design and form factor should grace the 2017 iteration as well, but Apple may finally add LTE support.

When it comes to a notable design change, however, Kuo believes it will not be in the cards until 2018.

"Apple Watch shipments could rise further between 2018 and 2020, pending significant form factor changes, FDA approvals supporting more medical and health applications, and 5G network commercialization, according to Kuo," notes MacRumors.

Apple could unveil its next-generation smartwatch alongside its new iPhone 7 line for 2016, which means the Apple Watch 2 could make its official debut sometime next month. The smartwatch could go on preorder soon after the announcement, while commercial availability will likely commence later on.

With no official word from Apple, however, it's still in the rumor state for now. Kuo has a great track record for making accurate predictions on Apple's plans, but it's still best to take things with a grain of salt for now. We'll let you know as soon as we get more details.

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