The Apple Watch was one of the most awaited products from the iPhone maker and surely we were impressed with what the company had to offer in the form of its first wearable. Although the device was pricier than its peers as is the case with most of Apple's products, the Watch has managed to captivate consumers.

Now with the recent announcement of the Watch OS 2, the wearable fans of the company can't wait for the Apple Watch 2, which is also speculated to release this year. IBTimes UK gives you the low down on what to expect from the next generation Apple Watch:

Design and Build

The Watch 2 design is expected to be on the lines of the first Apple Watch but its variants will go beyond the Sports, Steel and Edition tiers currently. The company apparently has plans to introduce more luxury variants like the Hermes collection.

Apple Insider says the upcoming watch may even feature a "magnetic wristband" that offers additional functionality according to a patent filed by the company. The magnetic straps might be utilised to temporarily fasten a user's watch to a larger magnetic surface, such as a refrigerator or computer.

Processor, OS and other features

A front-facing video camera (located near the top of the display) is speculated to feature, which will allow for FaceTime calls along with improved wireless capabilities. Along with this, the Watch 2 may be able to automatically adjust iPhone volumes paired with the smartwatch with the help of ambient noises according to a patent filed by the company. The watch will use its microphone to sample ambient sound and collect the corresponding data at regular intervals or when prompted to do so by a host device. Using the samples, the smartwatch can identify an alert from background noise and make a volume adjustment on its own.

As for the processor, MacWorld revealed that the next-generation Apple watches will have a brand new design for an ultra-tiny CPU, which might be an ARM Cortex A32 processor in a 32-bit powerhouse. ARM only recently revealed the brand new design for the ultra-tiny CPU built specifically for wearables like the Apple Watch.

The A32 promises better battery life, with faster performance and lower power usage. It's up to 25% quicker than the current ARM offering. It also incorporates new power management features compared to Cortex-A7 and Cortex-A5 processors, thereby providing more capabilities for embedded applications that require minimal idle power consumption.

The software on the Watch 2 is expected to be Watch OS 2, which was just recently announced. The latest update made some tweaks to amplify the watch experience like better native app support, tetherless Wi-Fi, the ability to watch videos, reply to emails and make FaceTime audio calls.

Release Date

There was immense speculation that Apple would announce the Apple Watch 2 at the 21 March event. But it did not. Instead, it only announced the upgraded OS for the Watch. So, there is a chance that Apple will launch the smartwatch along with the iPhone 7 at its own event in September-October.

But if rumours are anything to go by the Apple Watch 2 may hit markets by Q2 this year, which is earlier than the iPhone event. An announcement at the Apple Worldwide Developers Conference 2016 around June looks like a possibility as Apple Watch supplier Quanta chairman Barry Lam has said in 2015 that Quanta and Apple were developing the second-generation of the Apple Watch, which could be expected in the second quarter of next year.

A further rumour from the upstream supply chain suggests that Apple has lowered its order for the Watch 2 from its initial estimates for Q2 suggesting it'll be launched before the expected iPhone 7 but with limited availability. The recent price cuts on the Apple Watch also suggest that the release may be nearing as older products of Apple are discounted when a newer model is expected to hit the shelves soon.