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Apple Watch 3 release date, specs & features, news & update: Next-gen smartwatch to feature multi-functional wristband, more case options

Apple CEO Tim Cook introduces the Apple Watch during an Apple event in San Francisco, California March 9, 2015. | Reuters/Robert Galbraith

The Apple Watch 3 may not be due out any time soon, but speculations about its design and technological features are already making rounds. While the style and feel of the next-generation smartwatch may not be far removed from the Apple Watch 2, tech enthusiasts are hoping for some substantial changes to improve the device's overall performance.

TechRadar speculated that the Apple Watch 3 could come with a smart fabric wristband that doubles as an additional display panel that shows both time and some simple notifications. This is based on a patent that Apple reportedly has which details the said feature.

On the other hand, MacWorld reported that another patent called the "Magnetic Wristband," which was previously rumored to be featured in the Apple Watch 2, could have been intended for the Apple Watch 3 all along. This particular patent reportedly functions beyond just a simple wristband.

According to AppleInsider, when worn, the magnetic wristband should hold the smartwatch securely in place. But when taken off, the flexible strap, which wraps around and rolls up behind the device, can serve both as a protective case and a stand for the Apple Watch 3.

Since Apple added an option for a ceramic case for the Apple Watch 2, there are also speculations of titanium, platinum and liquidmetal case options coming for the Apple Watch 3. It is also rumored to come at a much higher price compared to all other high-end smartwatches.

There are no confirmed reports yet whether Apple would either thicken or slim down the next-generation smartwatch. Packing in more tech could mean that the Apple Watch 3 might come in a marginally thicker case than the older models. But it is also possible that Apple may find a way to address issues about the smartwatch's size and come up with a more compact model. The Apple Watch 3 is also expected to come with waterproofing features like the Apple Watch 2.

The latest rumored release date for the Apple Watch 3 is anytime between late 2017 to early 2018.