Report: New Samsung Gear S3 smartwatch will be unveiled very soon

If you're in the market for a new smartwatch, you might want to put your wallet away and wait just a little longer.

Samsung is reportedly planning to announce the Gear S3, the successor to the Gear S2 and Gear S2 Classic the company launched last year.

According SamMobile, the Gear S3 will retain the Gear S2's round display and rotating bezel. The watch itself will likely receive a design revamp, although it may simply be slimmer and more streamlined.

Not that there would be anything wrong with that. The Gear S2, as Mashable chief correspondent Lance Ulanoff said in his review, is the best round smartwatch on the market and possibly the best non-Apple Watch smartwatch available. 

The Tizen-powered smartwatch is comfortable and the rotating bezel makes navigation a breeze.

Samsung is set to announce its next flagship smartphone, the Galaxy Note 7, at its Unpacked event on Aug. 2.

Last year, the company teased the Gear S2 at the Note 5/S6 Edge+ Unpacked launch event and then formally unveiled it a few weeks later at IFA.

It's very possible Samsung will go with the same approach. IFA begins on Sept. 2 and runs through Sept. 7.

Mashable will be reporting live from the Unpacked event and IFA. We'll know soon enough what's what with the new Gear S3.