New reports indicate that Apple may be preparing to host a special event in March next year to officially introduce the follow-up to its Apple Watch wearable device.

But aside from the smartwatch, the same event could also serve as the launch stage for a smaller iPhone model.

The Cupertino-based tech giant first debuted the original version of the Apple Watch in March of this year, which was then followed by the release of the wearable device a month later. Given the fact that tech companies are known for sticking to their traditional launch cycles, it's highly possible that Apple might do the same thing next year.

As noted by 9to5Mac's sources, Apple might hold a similar product launch event in March of 2016 to formally introduce to the public the Apple Watch 2. For now, details about the device are still a bit vague but the new model is expected to sport upgraded features.

One of these is the A9 processor, which is the chipset model that Apple used to power its current flagship handset, the iPhone 6S. As for its other features, iDigitalTimes noted that according to rumors, the Apple Watch 2 will house a front-facing camera which will allow owners to use the device to make FaceTime calls.

In addition, the upcoming smartwatch model might also come with an independent GPS feature. This means users will be able to use the device for GPS tracking without having to link it to their iPhones.

But aside from the Apple Watch 2, another device expected to debut in March next year is the iPhone 6C. This is the heavily rumored iPhone model that Apple is currently working on. According to various sources, this handset will sport a 4-inch screen and will serve as the official replacement of the iPhone 5C, which debuted in 2013.

Like the Apple Watch 2, the iPhone 6C is also expected to run on the A9 processor. It might also feature the same camera configuration as the iPhone 6S.

Earlier this week, a poll conducted by investment firm Piper Jaffray revealed that there is a demand for a 4-inch handset, Apple Insider reported. But, according to analyst Gene Munster, the iPhone 6C will most likely not be released as a high-profile handset. Specifically, it will not have its own launch event like Apple's other flagship handsets.

Instead, he predicted that the device will probably be introduced along with a more high-end device such as the iPhone 7 or Apple Watch 2.