After initial rumors popped out of the supply chain predicting a blockbuster 10-year anniversary Apple Watch redesign, as the release date grows closer, hopes of that are dimming.

The company originally announced the Apple Watch as a product in October of 2014, but the final version didn't ship until April of 2015. Bloomberg reports that both the expected Series 10 and new Ultra 3 models will get an entirely new chip, but when the devices will arrive remains unclear.

Apple could follow its own previous strategy, announcing the new models sometime near the end of 2024, but with a spring of 2025 arrival date.

Neither model is expected to gain features stemming from the Apple Intelligence suite. That said, the new models could lay the groundwork for some level of AI enhancement in the future, according to Sunday's report.

The next Apple Watch models are expected to be thinner, but retain the same basic design, as we've already reported and modeled. The two existing sizes are still rumored to get bigger screens, with the larger model getting one roughly the same size as that of the Apple Watch Ultra.

The Apple Watch Ultra 3 model is not expected to see any significant design changes from the present model. The Ultra models were first introduced in 2022, so a redesign may wait until after 2025.

Other rumors have suggested that the new models could get better displays. Apple could also use the opportunity of the anniversary to change the way bands connect to the Watch, losing compatibility with older bands.