Quanta Computer chairman Barry Lam has been giving hints on the release date of the second generation of Apple Watch. According to Lam, the Apple Watch 2 is already in development and is planned to hit the market by the second quarter of 2016.

Quanta is the manufacturer of Apple Watch. Lam also added that though the watch will be available in stores by the second quarter, the total mass production will still be in the third quarter of the year.

According to sources, no major changes for the physical design will be made. Though the battery is said to be made larger, the same rectangular screen sizes with the same resolution specs will be observed.

Other sources also revealed that Apple will add a front video camera for FaceTime conversations to enhance features and to be even more attractive even for those who already have the first wave of Apple Watch. Enhanced wireless capabilities are also to be looked forward to.

The second generation is also expected to be "tether-less" allowing the watch to transfer heavier data and for router triangulation without being connected to other Apple devices.

Given the enhanced features, it is expected that the price would also go up for Apple Watch 2. Sources are looking at $1,000 for stainless steel and $10,000 for the 18-karat gold edition. Prices may also depend on the material used to make the watch casing and strap.

Reports claimed that Apple has sold over 7 million of the first edition Apple Watch since its release last April. Setting it in the top spot and beating all sales of Apple's competitors combined over the previous quarters.

According to Canalys analyst Daniel Matte, "After experiencing significant supply chain constraints early on, Apple managed to overcome its production struggles with the Apple Watch and is building momentum going into Q4." He also added that the release of the second generation of the watch before Christmas of next year will mark on how successful the Apple Watch 2 will be.