Everything you need to know about the Apple Watch 2

And you thought Apple just had a new iPhone up its sleeve?

An investor note sent out by well-connected technology analyst Ming-chi Kuo has been picked up by the rumour specialists at AppleInsider, detailing a host of new features set to come to Apple's smartwatch later this year.

Here's everything you need to know about the Apple Watch 2.

There are going to be two models

It looks like the Apple Watch is going to mirror the the dual model system used by the iPhone - with an Apple Watch [X] and an Apple Watch [X]S line up. 

One model won't change much

The investor note describes one model as an 'upgrade' on the current Apple Watch design: it will have the same appearance as the current model, but a better processor and improved waterproofing. 

Given that Apple isn't putting many new bells and whistles in this version of its timepiece, it's likely to be a good deal cheaper. 

The second model is where it's at...

The investor note outlines that the other model (which we'd call the 'S') will have improved location features, thanks to an inbuilt GPS radio and a barometer - because not a day goes by when we don't wonder what the atmospheric pressure is, right?

It'll get a better battery

The 'S' model will also feature an improved battery - though don't expect it to last any longer, as that power will be needed to run the additional features.

It will also get a thinner display, and squeeze in that improved processor. 

Expect it to be shown off at Apple's September event, where it will sit alongside the new iPhone.