Apple is reportedly working on the Watch's biggest redesign yet: the 'Watch X'

• Apple is planning to release a new model of the Apple Watch for the device's 10-year anniversary.
• Its set to launch in 2024 or 2025 and include a major redesign of the current Apple Watch, Bloomberg reported.

The Apple Watch was initially labeled a flop after launching in 2015. These days, though, it's, of course, one of the most popular smartwatches in Silicon Valley.

Now, Apple is reportedly planning a major redesign of the device in time for its 10-year anniversary.

"Watch X," as the new model has reportedly been dubbed, will likely be released in 2024 or 2025, Bloomberg reported. For anyone counting: both of these years could mark the smartwatch's "10th anniversary" given that Apple introduced the Apple Watch in 2014 and officially began selling the device a year later.

The "Watch X" will likely feature a thinner watch case, a microLED display with enhanced color and clarity over the current OLED display, and a revamp of how the bands of the watch attach to the device, Bloomberg reported.

Right now, the bands of the Apple Watch can slide in and out of slots on either end of the watch face. The design is consistent across older and newer models. That makes it easy to interchange watch bands between devices. However, the system also takes up a considerable amount of space — and that space could likely be filled with a larger battery, for example, Bloomberg reported, citing people familiar with development of the new watches.

The company is exploring a new magnetic attachment system for the bands, Bloomberg reported, though it's unclear whether the new system will be incorporated into the Watch X model.

Another major change will be technology for monitoring blood pressure, Bloomberg said.

In time, Apple also plans to add a non-invasive blood glucose monitor to its watches that can measure blood glucose levels without as much as skin prick. The company reportedly made a "major breakthrough" in the development of this technology earlier this year. It's not clear, however, when this technology will be incorporated into the smartwatches.

The forthcoming debut of Watch X is significant given that Apple has made relatively gradual updates to its models over the past several years. It did, however, launch the Apple Watch Ultra, a $799 watch for extreme athletes last year.

For example, the Apple Watch Series 8 — which came out last September — had three notable features over the previous model, including a body temperature sensor, a new low-power mode that equipped the device with an additional 36 hours of battery life, and crash detection, which promises to detect if the wearer has been in a car crash.

The biggest changes to the Series 9, set to launch next month, will be a larger spate of colors and faster processors, Bloomberg reported.

Apple did not immediately respond to Insider's request for a comment.