Apple, Inc. (NASDAQ:AAPL) is readying a "splashy upgrade" for the tenth-anniversary edition of its smartwatch, said Bloomberg columnist Mark Gurman.

What Happened: Following a minor refresh of the 2023 models that are due in September, Apple is aiming to move away from the "slow-but-steady" annual upgrade cycle, said Gurman in his weekly Power On newsletter.

“Apple isn't giving consumers many reasons to buy a new watch with each generation,” the columnist said. After the 2022 launch of the Apple Watch Ultra, which included high-end upgrades, 2023 will once again be a low-key affair, he said.

The Apple Watch Series 9 lineup will likely be launched alongside the iPhone 15 series at an event on Sept. 12, Gurman said. He expects it to have the same size as the current models but with faster processors and fresh colors. “In terms of new features, it's arguably the most minor upgrade in the product's history,” he added.

When launching new watches, Apple typically targets first-time smartwatch buyers, people with older models, and Samsung and Fitbit users, the columnist said. Because of this, Gurman said he expects the company to stick with the once-a-year upgrade cycle.

See Also: Everything You Need To Know About Apple

Radical Overhaul: Apple is planning a “Watch X” model to mark the device's 10-year anniversary, and it promises to be the biggest overhaul yet, Gurman said. Because the Apple Watch was first unveiled in 2014 and released the following year, Watch X could be released either in 2024 or 2025, he said.

With the Watch X, Apple designers are working on a thinner watch case and are exploring the possibility of changing the way bands are attached to the device, Gurman said.

The company is toying with the idea of a new magnetic band attachment system, as designers feel the current system takes up a considerable amount of space that could be better filled with a bigger battery or other components.

Gurman additionally flagged other major changes, including a microLED display that tops the color and clarity of the current OLED screens, as well as a technology for monitoring blood pressure.

Apple closed Friday's session at $177.79, up 0.03%, according to Benzinga Pro data.

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