With the first version of the Apple Watch going on sale now a distant memory, attention now shifts to its successor. Chinese media, citing comments made by the chairman of a company used to produce the Watch, claims the next model will arrive in the second or third quarter of 2016.

This will be a full two years after the original Watch was first announced by Apple back in September 2014. The Watch was shown off again in March 2015, before going on sale in April. It was speculated at the time that Apple would adopt a two-year refresh strategy with its first watch, double that of the iPhone.

The comments were made by Barry Lam, chairman and founder of Quanta Computer, a Taiwanese company which also produces iPads and laptops for Apple, and reported by Chinese publication UDN, via 9to5Mac.

The report talks of small volume production in the second quarter (April to June), followed by higher production levels, as is usually the case when new Apple products are released. But what should the Apple Watch 2 look like? Here are our thoughts:

1. Longer battery life

This one should go without saying. Like all smartwatches, the Apple Watch struggles to make it through a second day without being recharged. Five days of average use or three days of heavy use would be a hugely welcome improvement.

2. Sleep tracking

Better battery-life would allow the Watch to start tracking its wearer's sleep. Something it currently does not do, the Watch could use its accelerometer, heart rate monitor and microphone to record the wearer's sleep, adding this data to the Health app on iOS.

3. More branded straps and dials

Hermes should be joined by a whole range of other fashion and watch companies. Each could produce a line of straps sold separately and bundled with the Watch, which would include a branded digital dial to match the strap. This is surely the most cost-effective way for many fashion brands to get into the smartwatch industry without producing their own.

4. Integrated GPS and running app

The Watch needs its own GPS connection so it can accurately track your running without needing to rely on the iPhone. Other watches and fitness trackers do this, and so should Apple.

5. Faster performance

Always welcome and always expected, a performance boost is much needed to help make the Watch's software feel quicker. Improvements to its Bluetooth connection to your iPhone - through which data from apps is sent - would also be very welcome. However, improving this and battery life will be difficult.

6. Thinner body

Just as with battery performance and battery life, a thinner body is always high on Apple's improvements wishlist. We're perfectly happy with the footprints of the 38mm and 42mm watches, but a slightly thinner body which tucks under your shirt sleeve more easily would be welcome. Again, making a thinner device with better performance and battery life is not easy.

7. Lower price

Journalists can dream, can't they? We doubt Apple will even consider dropping the Watch's price, especially considering Tag Heuer recently announced a smartwatch costing £1,100. This makes the £299 Apple a (relative) bargain. But will the Watch Edition (£8,000 to £13,500) remain, or was that a branding exercise which Apple will be keen to dump in selling more of the affordable versions?