It is only normal for such a rumor to boil up after the release of Apple’s latest flagship phones; the iPhone 6s and 6s Plus. A new report, just a few months after the reports about the release of a new Apple Watch later this year, suggests that the smartwatch has entered its development phase and could see light of the day in 2016.

The word comes from a Chinese media outlet UDN, which is citing a number of comments that were allegedly made during a meeting with Barry Lam, who is actually the founder and chairman of Quanta Computer, a Taiwan-based hardware manufacturer that is responsible for manufacturing the Apple Watch.

It’s also rumored that Apple Watch 2, just like its predecessor, will have the same square display and resolution. Some reports that emerged earlier suggested that LG will provide the display for Apple Watch 2, however, new reports suggest that Samsung will also provide P-OLED panels for the device.

The release of this wearable device is expected  in the third quarter of 2016, i.e. around September. That is a later date than what most of expected it to be. As it is an Apple Product, it sure is going to be pricey. The cost is anticipated to be around that of its predecessor, or more.