With the purported release of the Apple Watch 2 fast approaching, its predecessor becomes the subject of discounts and promotions.

The Apple Watch is now being sold for $200, which is $150 less than its original $350 price. It is believed that this massive discount heralds the arrival of the Apple Watch 2.

Price markdowns are usually a precursor to the arrival of a new version. Retailers want to clear their stock before the next one arrives and this appears to be what's happening.

Unlike Apple's other products, Apple Watch 2 won't see a big change in the design. This is according to reputed KGI Securities analyst Ming-Chi Kuo.

In his research note, he said that the next-generation smartwatch from the Cupertino-based company will get most of its progress on the inside.

The Apple Watch 2 will reportedly come with a better waterproof design, a GPS or Global Positioning System, a barometer and an overall improved design.

Prior to Kuo's claims, it was reported that the new Apple Watch will don a thinner chassis and a new appearance. However, this might not be the case after all. 9to5mac says that the so-called Apple is saving up its big hardware plans for the Apple Watch 3.

Kuo also said that Apple will release a new version of the original Apple Watch with a more powerful processor for improved performance.

The analyst's prediction about the first smartwatch reaching the $200 price range has already come to fruition, which gives credence to his other claims. Furthermore, Kuo already holds a reputable record when it comes to Apple forecasts.

The Apple Watch 2 is expected to be released next month, which will be a year and half after its predecessor hit the market. It is expected to share the spotlight with the iPhone 7 and new iPads Apple is rumored to unveil as well.