The Apple Watch 2 is close to being ready, or at least that's what all the latest reports claim.

Apple unveiled its first smartwatch, simply called the Apple Watch, in September 2014, but it didn't begin shipping the wearable until April 2015. Many people therefore didn't expect the company to announce an updated version during its iPhone 6S event in September 2015 - and they were right. Since then however, we've all been asking ourselves: just when will Apple show off the second-generation Apple Watch?

To help give you some clarity, we've rounded up all the rumours. Here's everything we know so far about Apple Watch 2, including when it might release, how much it might cost, and more...

We've only seen one Apple Watch so it's hard to pinpoint Apple's naming convention for the device. The company tends to stick to numerical monikers for its iOS products, such as iPhone 5, iPhone 5S, iPhone 6, iPhone 6S. The same can't be said for its OS X products however, with names like the MacBook Pro instead.

For the sake of this feature, we will refer to the second-generation Apple Watch as Apple Watch 2 or next Apple Watch.

According to China's United Daily News (via The Gadget Show), the next Apple Watch could launch around June - maybe at WWDC 2016 (kicks off 13 June).

The report quoted Barry Lam, chairman of Apple supplier Quanta, who claimed: "Quanta and Apple are currently developing the second-generation of the Apple Watch, expected late next year in the second quarter." Keep in mind Quanta is the sole manufacturer of the first Apple Watch, so if Lam is speaking truthfully, we can expect the next Apple Watch to arrive next summer.

If it does launch in the second quarter, Apple might unveil it a few months prior. In 2015, Apple held a March event to shed more details on the first Apple Watch and to unveil the 12-inch MacBook, but history didn't repeat itself this year. Instead the 21 March Apple event simply revealed new Apple Watch straps, alongside a smaller iPad Pro and a 4-inch iPhone called the iPhone SE.

The first Apple Watch starts at £299 ($350) and comes in many different models, sizes, and materials. The models are called Watch, Watch Sport, and Watch Edition, and each one offers two different case sizes: 38mm and 42mm. You must first decide which model you want, then you choose your case size and the band material you prefer. There are plenty of options, which you can read about in our separate feature.

Pricing varies wildly depending on your choices. There are 20 Watch options, 10 Watch Sport options and eight Watch Edition models with prices starting at £449 and ranging up to a whopping £13,500. We expect the next Apple Watch to follow similar pricing tiers - since Apple usually sticks to the original prices it sets for devices.

That said, Apple could introduce more expensive models. 9to5Mac suggested Apple is considering additional price points between the $1,000 stainless steel Apple Watch and the $10,000 18-karat gold Edition. If that's the case, pricing will be based on materials, naturally.

Update: Apple in March cut the price for the least-expensive version of the watch (Sport Watch model) by $50 to $299. This now appears to be the starting base price for Apple Watch going forward.

A report from South Korea (via G4Games) claimed the next Apple Watch will sport the same design and form factor as the first Apple Watch. It'll have the same rectangular screen sizes, screen resolution, and body, which therefore means your current straps might remain compatible.

Apple Watch 2 won't even be thinner, even though its display thickness will apparently be scaled back. This is because rumours are claiming its battery will be bigger.

Tech site, 9to5Mac also claimed the new model would come with new materials like titanium, tungsten, palladium, and platinum, supporting its claim of additional price points.

FaceTime camera

The next Apple Watch will sport a front-facing video camera (located near the top of the display) that will allow for proper FaceTime calls, according to 9to5Mac. It'll also feature improved wireless capabilities, including a "more dynamic wirless chip" and the ability to do more without a Bluetooth connection to your iPhone, thus enabling you to place and receive video calls directly from your wrist.

Faster Wi-Fi Chip

The first Apple Watch uses Wi-Fi for app updates and messaging, but the new chip will be able to handle more data transfer and router triangulation for improved location accuracy. Although it'll also consume more power, the next Apple Watch is expected to boast a bigger battery, so you shouldn't notice any difference in juice (when compared to the current model's one-day battery).

Cellular data and faster processor

According to The Wall Street Journal, Apple is definitely working on an Apple Watch 2 with new features.

Two of those new features might be cell-network connectivity and a faster processor. Many critics have lambasted the now year-old Apple Watch because it's not useful when away from an iPhone. You can track activity and do some things on Wi-Fi, but that's it. And its sluggish processor is sometimes throttled to extend battery life.

With cellular data on the new Apple Watch, you could leave your iPhone at home, then go out, and still get notifications and run apps. A faster processor would also make the Apple Watch 2 run smoother, quicker than Apple Watch.

Pocket-lint's Apple, Apple Watch, and Apple Watch 2 hubs have all the latest developments.