The recently concluded Apple March event, aside from the introduction of iPhone 5SE and the new iPad Pro, unveiled new watch bands for Apple Watch, which also got a slashed price to $299; nothing, apparently, has been said about the highly-expected Apple Watch 2.

On the last big Apple event in Cupertino, Apple users were introduced to the new watch bands for Apple Watch, new colorful woven nylon bands and the new Milanese Loop in Space Black. The smartwatch also got a $50 price drop, one which many, if not all, were surprised and amazed.

Many users, however, could not help but ask about the heavily-rumored Apple Watch 2, when it will be released and what to expect from it.

In its report, International Business Times said that Apple Watch supplier Quanta chairman Barry Lam already said last year that Quanta and Apple were working together to develop the second-generation of Apple Watch. Barry Lam added that Apple Watch 2 could be expected in the second quarter of this year. Hence IB Times said that if Barry Lam's statements will be followed, the Apple Watch 2 may be released during the WWDC 2016 in June.

"A further rumor from the upstream supply chain suggests that Apple has lowered its order for the Watch 2 from its initial estimates for Q2 suggesting it'll be launched before the expected iPhone 7 but with limited availability," IBT wrote. "The recent price cuts on the Apple Watch also suggest that the release may be nearing as older products of Apple are discounted when a newer model is expected to hit the shelves soon."

Wearable also added in its report that with the $50 price drop for Apple Watch, it had just became more competitive with the latest Moto 360 and Samsung Gear 2.