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I would personally say it is very unlikely for the same reasons that there havent been any new products released unter the beats branding. Right now, people are still very new to the product and the people buying them are first time buyers and there are a lot of them left. Apple is also incentivized to delay iterations to the watch as long as possible because as more time goes on, more sales are made, component costs shrink, supply chain efficiency improves, and their overall profit margin widens. No competitor is even close to threatening the apple watch either.

In a way, having the product delayed as long as possible may be a good thing for current watch owners as well. That means the watch 2 can spend more time in r&d and apple can figure out ways of delivering some really awesome imporvements at the same msrp. Doing that will convince owners to upgrade.

I think we'll see another one in march or june of next year at wwdc, maybe even as late as fall. Just from watching apple and Tim Cook as a ceo and how the company operates under him, I would say tHere is about a 10% or less chance of an update this year.
 
What would make me want to get new hardware?

- GPS? Well, no, not unless it comes with cellular data, too. Having a GPS watch without data means missing out on a lot of possibilities. My Garmin has GPS and no data, and you'll never find an address with it (let alone when the next subway train is due, or a text from my wife asking me to bring home some milk after my jog).

- Totally new battery technology? Maybe. If it only needs to be charged once a week, it shouldn't also suffer episodes where it needs more frequent recharging. For now, though, brief daily stints on the charger are easy to make into a routine.

- Solar charging? It'd take a miracle. I'd like this one, though. Kinetic charging seems even less likely.

- Sturdier case construction? If there's a way to hold it together, keeping Force Press and the LED array without relying on glue, count me in. I think achieving this goal is harder than it appears.

- Faster CPU? Why? The CPU isn't the bottleneck.

- More memory? Not until I finally succumb to Bluetooth headphones, which I don't want to do. Any electronic gadget I don't regularly use also doesn't get regularly recharged, and I don't use headphones very often.

In a nutshell: I'll likely keep using my Watch 1 until a new one gains solar charging and a glue-less case.
 
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