Apple and Samsung are now preparing to release their newest smartwatches later this year. These two tech firms are known for developing top-class devices, so it is not surprising fans are asking about the latest developments in Apple's Watch 2 and Samsung's Gear S3.

To begin let's start with the Gear S3. Sam Mobile reported the successor of Gear S2 is in the works. The upcoming wearable is under the codename Solis, which means "Sun" in Spanish. Some tech experts speculate the wearable will have a circular/round display with a rotating bezel because of its codename.

The Gear S3 will also become available with the Tizen operating system instead of Android. It is reported the operating system has updated interface that uses the rumored rotating bezel.

Furthermore, the Gear S3 will come in variety of unlocked models. Three of the unlocked variants will have model numbers SM-R760, SM-R765, and SM-R770. In addition, the wearable will have two carrier variants with model numbers SM-R765V and SM-R765S.

As for the release date of Gear S3, Techno Buffalo said Samsung might announce the device at this year's IFA in Berlin, which is scheduled in early September. The existing Gear S2 was revealed at the same event.

Now, let's check out what are the new features of Apple Watch 2. Paul Lamkin of Forbes said Apple's new smartwatch will have a compact digital camera, which contains CMOS sensor and optical components for clearer images.

Samsung's Gear series features camera on its bezel, so it is good news Apple will also have camera on its upcoming smarwatch. The feature will help users to take snaps or do FaceTime video calling. The small camera might be installed on Watch 2's top bezel to allow users answer calls from their wrists.

Additionally, the next Apple watch will have Wi-Fi enabled chipset, making the device more functional without the help of an iPhone. Users can also send emails, texts and update apps without the need of an iPhone to transmit the data.

The current Gear S2 and the LG G Watch Urbane 2nd Edition can function independently without smartphone. With wireless capability, Apple Watch 2 can stand toe-to-toe with these smartwatches.

As for Watch 2's release date, many are expecting Apple will unveil it during WWDC 2016 in San Francisco, but it did not happen. Latest reports say the Cupertino-based tech giant will announce the smartwatch on September, alongside with iPhone 7.