A next generation Apple Watch is scheduled to come out next year. The updated Apple Watch is already in its development stages, according to reports.

Quanta makes the Apple Watch for Apple and a report from a Chinese media website says that they are already developing the next Apple Watch, CNet reports.

According to the report, statements were made from Quanta's chairman Barry Lam that pointed towards the watch being built and developed.

There is not much detail in the report about the next Apple Watch or what changes can be expected. The report did say that Lam expects the next Apple Watch to be better than the current model and that it will offer "fully upgraded hardware and software."

This is not the first report of a new Apple Watch as there have been other reports of a next generation Apple Watch coming out next year.

The Apple Watch first went on sale in April of this year and according to research estimates from Canalys, Apple has sold 7 million units of the watch. The Apple Watch has dominated the smartwatch market, easily beating sales numbers from Samsung, Motorola, LG and other competitors.

The Apple Watch has its limits, such as needing a nearby iPhone to fully perform its functions. The next Apple Watch would hopefully remove this limit, have a larger face, better battery life and other new features. Improvements to the smartwatch would help it sell even better and continue to help the Apple Watch dominate the smartwatch market.

Apple has added new band colors and updated the watchOS to version 2. With watchOS 2, certain apps can run without a nearby iPhone.