This September, Apple will instead launch the Apple Watch Series 12 and Ultra 4, which are expected to be incremental updates. Here's what's actually on the table, when it might arrive, and why Apple is rethinking its wearable strategy at all.
Round displays. Apple is actively prototyping Apple Watch models with circular screens, a fundamental break from every model since 2015 . Multiple sizes are reportedly being discussed, but Gurman cautioned that a round display model is "unlikely to be released" in its current form .
Screenless fitness wearables. Apple is exploring wrist-worn fitness accessories with no display at all, aimed squarely at the growing Whoop-style screenless tracker market . A separate "Apple Loop" or screenless band concept has also been mentioned in supply-chain reports .
New sizes and tiers. The company is discussing models above the Ultra and below the SE, plus different screen types and new case sizes .
Smart ring ("iRing"). A separate leak from June 2026 — a single X post from leaker and prototype collector Kosutami — claimed Apple is developing a smart ring to compete with Oura Ring and Samsung Galaxy Ring . However, specifications, pricing, and release timing are entirely unknown. In October 2024, Bloomberg's Gurman had reported that Apple had no plans for a smart ring due to cannibalization concerns .
Apple has not settled on a direction for any of these concepts . According to reports, "anything radically new is still years away from coming to market" . The team is described as "determined to reinvent the lineup in response to growing competition" but remains in the exploratory-prototyping phase .
This September, Apple will launch the Apple Watch Series 12 (codenamed N237/N238) and Ultra 4 (N240) . These are expected to be iterative upgrades:
A more substantial design overhaul — potentially including a new magnetic band attachment system, a thinner case, and a microLED display — has been separately tipped for 2027 by Weibo leaker Instant Digital . Some reports suggest the redesign may not arrive until 2028 .
Several market pressures are pushing Apple to reconsider its wearable approach:
Rise of screenless health trackers. IDC data shows wristbands grew 14.7% in 2025, driven by recovery-focused, screenless devices "inspired by the success of screen-less health wearables such as Whoop" . Apple is "taking the resurgence of fitness bands without screens... seriously" .
Smart ring competition. The Oura Ring 4 (Oct 2024) and Samsung Galaxy Ring have carved out a finger-worn niche with multi-day battery life (Oura: up to eight days) and continuous health tracking, prompting Apple to evaluate an "iRing" response .
Slowing smartwatch upgrade cycles. With year-over-year innovation narrowing, Counterpoint Research data shows users are holding onto watches longer, pushing Apple to explore more dramatic form-factor breakthroughs to reignite demand .
Health-tech ambition. Apple's health team, reportedly energized by new leadership under executive Sumbul Desai, is pushing toward more specialized, AI-powered health wearables that go beyond the general-purpose smartwatch .
If you're waiting for a radically different Apple Watch — one with a round face, no screen, or a total redesign — you'll be waiting until at least 2027, and possibly longer. This September's Series 12 and Ultra 4 will be familiar but refined: faster, more sensor-packed, and slightly tweaked on the outside. The bigger ideas remain in the prototyping lab, where Apple is weighing whether its next decade of wearables looks more like a traditional watch, a Whoop band, or something entirely new.