An update to the Motorola Moto 360 smartwatch is coming soon and there might actually be two separate models, The Verge reports.

An image from Google+ user HelloMoto shows what is said to be one of the next Moto 360 smartwatches. The watch is shown next to the original Moto 360 to compare the two watches and the new Moto 360 is similar, but smaller.

Another image shows a clearer look at the Moto 360. The notable difference is the button has moved from the middle of the watch (3 o'clock) to the upper right corner (2 o'clock).

It looks like there will be two Moto 360 models, the Moto 360L and Moto 360S. The S could stand for small and have a smaller display, or it could be a smaller wristband designed for women and smaller wrists. The L model might have a larger display, or it could be made for larger wrists. Tech Radar believes it will be a bigger display and bigger battery in the Moto 360L.

The next Moto 360 might not only be smaller than the original, but it could also be cheaper. The design is expected to be easier to produce, making it cheaper, Slash Gear reports. A cheaper device does not mean that the internal components will be of less quality. The metal, glass and other components in the next Moto 360 are expected to be of the same quality as the original.

When they are officially announced, the two new Moto 360 smartwatches are expected to have Bluetooth LE, WiFi connectivity, 512 MB of RAM, 4 GB of storage and sensors for speed, orientation, altitude and heart rate.

Thanks to the new design of the Moto 360, it will be easier and faster to change watch bands.

The next Moto 360 could be introduced as soon as next week. Most are expecting the smartwatches to be introduced during the IFA conference in Berlin Sept. 4-9.