If everything goes as planned, Apple is set to hold a spring event in March to introduce the Apple Watch 2 along with some other new hardware and software goodies. That’s only about a year after the original Apple Watch went on sale, but roughly 18 months since the first-gen model was actually announced.

As a mostly satisfied Apple Watch 1 customer, March or April doesn’t strike me as being too soon for the Apple Watch 2. Personally, I’m excited to see if the next model can handle apps better with a needed speed boost and maybe lose a little overall thickness and display bezel.

But while I’m basically already lining up to buy the next Apple Watch, I probably won’t spend the extra $200 on a stainless steel model this time if it’s is going to be an annual product upgrade. And for most Apple Watch customers, buying a new model will probably be an every 2 or 3 year event if that.

Apple Watch has a lot of opportunity to get better over the next few years, though, just like the original iPhone advanced dramatically between iPhone 1 to iPhone 4. A proper Apple Watch Upgrade Program could easily encourage current owners to buy the latest hardware every year (everyone using the latest generation helps the overall product’s reputation) and encourage new customers to splurge on higher-priced models. There would be other benefits as well …

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