Apple appears to be working hard to deal with some of the shortcomings in the current Watch. The wearable is slow and it lacks in mobile and global positioning system connections.

The Watch performs some of the tasks such as activity tracking, mobile payment and notifications quite well. But most of the functions the Watch performs can be found in an iPhone or any activity tracker with an affordable price tag.

The next version of Apple Watch, widely known as Apple Watch 2, is expected to bring some significant change in terms of performance. It is one of the most anticipated devices in Apple's 2016 production lineup. According to sources familiar with the matter the Wall Street Journal spoke to, Apple's next generation Watch would be equipped with a faster processor and boast cellular network connectivity.

"Most of the greatness that is going to come through the Apple Watch is coming in the future. Six years from now, it's going to be weird not to have a smartwatch," said Adam Grossman, the creator of Dark Sky, a weather app for the iPhone.

The problems Apple Watch is currently experiencing reflect what the iPhone had to face initially.

Forrester Research analyst J P Gownder said the Watch is not useful and Apple failed to do enough in terms of creating a broader ecosystem of services. He said: "Apple needs to make it an indispensable thing."

Analysts claim Apple sold about 12 million Watches in the first year, compared to the iPhone's first year sales of six million. IDC data suggests the Apple Watch accounted for about 61% of global smartwatch sales in 2015. A survey conducted by research firm Wristly states as many as 93% of 1,150 Apple Watch owners were either satisfied or, very satisfied with the wearable.