Samsung Gear S3 smartwatch will be officially unveiled during the press conference at IFA 2016 on 31st August 2016. With regards to the update, nothing concrete has been confirmed. However, we expect that the Gear S3 will feature the rotating bezel like the Gear S2. Samsung will probably also up the feature list by improving or including new lifestyle features in the smartwatch.
The invite sent clearly mentions the launch of Gear S3. The pricing is not yet known, however our best bet would be that it will be priced on the same lines of Gear S2 when it was launched.
The launch event will also be live streamed on www.samsung.com/galaxy.