Good news for gadget lovers out there. The successor of the current Gear S2 will be announced at Berlin's IFA trade show. Samsung Gear S3 will reportedly have better processor and design compare to its previous versions. Now, here's what is currently known about Samsung Gear S3 release date, specs and rumors on the web.

SamMobile initially reported about the upcoming launching of Gear S3 at IFA. This annual trade show for consumer electronics takes place every year in Berlin. The event is scheduled from September 2 until September 7.

For those unaware, Samsung released the Gear S2 at the same event. The South Korean tech firm teased Gear S2's launching after introducing a new Note in August. If the company continues that release cycle, we will definitely hear more about Gear S3 in the next few days.

The Galaxy Note 7 will be announced on August 2. After that event, we expect Samsung will tease fans about Gear S3's release.

The Verge says Gear S3 will have a rotary bezel that can be used to naturally scroll through each of the watch's colorful and informative slides. The wearable will also run on Tizen OS, the same with Gear S2.

One of the biggest features of Samsung's smartwatches is that they can be paired on all Android phones running at least KitKat and at least 1.5GB RAM. We expect the forthcoming Gear S3 will also have that feature.

The current Gear S2 is powered with Exynos dual-core processor clocked at 1GHz. However, when using more intensive apps, the watch slows down. To address the issue, the Gear S3 might come with better processor and faster clock speed.

Furthermore, the more expensive 3G/4G model of Gear S2 has GPS, which is an awesome feature for runners, cyclists and mountaineers. We expect to see this feature trickle down to the standard edition of the Gear S3.

Industry experts estimate Gear S3 might cost between US$250-350 depending on the model.

On the other hand, Gear S3's biggest rival, Apple Watch 2, could become available on September. The second-generation of Apple Watch could be launched alongside with iPhone 7. It might come with a compact digital camera, which contains CMOS sensor for clearer images.

We'll give you more updates as soon as we know more. Stick with Gospel Herald for more tech news.