New info about the second iteration of the Apple Watch has emerged. Barry Lam, chairman of Taiwan manufacturer and Apple supplier Quanta,apparently hinted the so-called Apple Watch 2 is already in development and it will boast more powerful features.

Lam was quoted by China-based publication United Daily News in a recent investor meeting that the "fully upgraded hardware and software" to be integrated in the smartwatch will boost the popularity of the device as well as its sales performance.

The aforementioned publication reported that the Apple Watch 2 is still in development and is expected to be made available by second or third quarter of next year. This is quite a surprise considering the first wearable from Apple was released April.

The source's estimation puts the release of the device by June as the earliest. This is a couple of months behind the Apple Watch release schedule that was initially believed to be the standard timeframe the Cupertino-based company will go by for future iterations of the smartwatch.

Reports say that Quanta was the only supplier of this year's Apple Watch and the company is said to be working on being able to assemble new products, with the new Apple Watch at the heart of this newfound goal.

But unlike this year, Foxconn, which is also known to be Quanta's biggest rival supplier, will allegedly help out in the making of the Apple Watch 2.

As for the improvements to expect on the new Apple Watch, United Daily News did not provide specific details although basing on what the original smartwatch from Apple, media outlets have a pretty good idea what an overhauled Apple Watch will look like.

Previous reports hinted that there will be little to no alterations in the device's appearance, although Apple is said to be working on prolonging the battery life of the smartwatch. It is also expected to house a faster, more powerful processor.