Series 5 like you said, Will likely be more incremental, internal improvements, another color added. The next major breakthrough would be glucose monitoring. Eventually I could see Apple adding a round design, but not yet. The real question, does Apple launch a Series 5 this coming fall or later? I personally would like to see the Watch launches more spread out. I personally don’t think an Apple Watch needs to be released annually, when most consumers don’t upgrade their smart watches on an annual basis like others do on here.
I don't think this would work. There are people who upgrade from 2-4-6 others 1-3-5, others have enough cash to upgrade ever year. And there are new customers who don't have a watch yet. None of them wants to buy a watch that has been on the market for more than 12 month. At the very least apple would have to do cosmetic upgrades every year. Maybe they can adopt a 4-4s-5-5s cycle.