Rumors of an impending/eventual Moto 360 sometime this year or next are starting to surface. The intel indicates that a new Motorola device with the “Smelt” codename is in development. A "Smelt" is a type of "small silvery fish." This is relevant because the original Moto 360 had the codename "Minnow.”
On top of this info, the source revealed that the gadget will run Android 5.1 and includes a 360 x 360 resolution display. It's not too tough to put the pieces together and come up with a Moto 360 2nd gen device. There's no indication as to how long it will be before Motorola plans to launch the device. Considering the Moto 360 has been out for some time, it could be as early as the fall or winter of this year.
We will keep an eye on this. In the mean-time, here's our dedicated Android Watches section for further discussion: Android Watches Android Forum at DroidForums.net
Source: Phandroid