Ming-Chi Kuo is a name most tech enthusiasts are familiar with. He's rather reliable when it comes to predicting the upcoming generation of iPhones, and he is accurate with his predictions of what tech we'll see on them (and even those we won't). He's back to chime in on the Apple Watch 2, but he predicts something interesting indeed.
First, he says that the Apple Watch 2 will come with a more recent processor, barometer, waterproofing (or water resistance), higher-capacity battery, and GPS. GPS has been rumored for the Apple Watch 2, as well as the waterproofing, but the higher-capacity battery is more of an expectation in general trends when it comes to mobile devices. Most consumers expect battery capacities to rise each year, though some manufacturers make the case for smaller batteries if such devices are better optimized and provide better battery life overall. As for the claim that the Apple Watch 2 will have cellular connectivity, Kuo says to not count on it until 2017 (Apple Watch 3). Yes, this means that, at most, Apple Watch 2 buyers can only expect Wi-Fi enabled devices (though we've heard nothing on this front for now).
As for the Apple Watch refresh we heard about earlier this year, Apple intends to release a first-gen. refresh later this year alongside of the Apple Watch 2 -- but with only a new processor and water resistance to boot. The first-gen. Apple Watch refresh won't have GPS or a barometer, and we're not sure that it will have a higher-capacity battery, either. There's been no word on whether or not Apple will bring that FaceTime camera that was rumored to arrive earlier this year.
So, to answer a question many potential buyers have had, yes, there'll be two Apple Watch models released in September: one will be a first-gen. refresh with water resistance, better processor, and better battery, while the other will be the Apple Watch 2 that features water resistance, higher battery, in-built GPS, and a barometer. Apple is preparing to release smartwatches in two different tiers with two different price points as a way to win over consumers at different price ranges. The Apple Watch 2 will likely cost more than the first-gen. Apple Watch did when it was released. As usual, Apple intends to make consumers pay more out of pocket for features that Samsung offers as part of normal pricing. Apple wouldn't be Apple to do otherwise.