Since the release of the successful Asus ZenWatch smartwatch device last year in November, the Taiwanese giant is preparing to launch a successor, the new Asus ZenWatch 2, sometime before the end of this year, according to reports.

Asus announced the new Asus ZenWatch 2 smartwatch at the recent Computex 2015 event that took place in Taipei, Taiwan.

Since the new ZenWatch 2 is coming out soon, what are the specifications and features fans can expect from the new device and what is the difference in comparison with its predecessor.

The original ZenWatch device was commended by reviewers for its design and display screen. Reports say the new ZenWatch 2 will have an identical but refined design to the original including more color options for would-be owners.

An earlier report by Pocket Lint suggests the new ZenWatch 2 will come with two different models that have smaller sizes than their predecessor. The ZenWatch 2 is expected to be available in three different colors. The colors that will be available are gunmetal, silver and rose gold, covered by a stainless steel material.

The ZenWatch comes with a 51 x 39.9 mm size, while the two new models will come with a 45 x 37 mm size with an 18 mm strap, and a 49 x 41 mm size with a 22 mm strap. For the new device, reports say 18 more straps that come in a wide range of colors will also be available to consumers.

In addition to the colors, these straps will be available in leather, rubber and stainless steel materials, according to Ecumenical News. It's unclear how much the new ZenWatch 2 device will weigh, but the original ZenWatch weighs about 75 grams.

Pocket Lint added that the new device models will have a water resistance capability, but with an updated IP67 rating, which is higher than the ZenWatch's IP55 rating. The ZenWatch comes with a 1.63 inch display screen with a 320 x 320 resolution, while the new ZenWatch 2 will come with an AMOLED display screen that's protected by Corning Gorilla Glass 3, according to reports. Internally, the new device is expected to pack the same specifications as the original smartwatch.