It looks like Asus has a third generation ZenWatch in the works. Earlier two iterations of the smartwatch from Asus sported a square dial, however the ZenWatch 3 may feature a circular display.
The Asus ZenWatch 3 has been certified at the FCC and the listing suggests that the phone will have a round display. The Zenwatch 3 model number is listed as WI503Q (the larger Zenwatch 2 is WI501Q and the smaller version is WI502Q. The FCC documents further reveal that the Zenwatch 3 will support Bluetooth 4.2, Wi-Fi 802.11n, and sport a stainless steel back. It will come with a 5V 2A charger.
Similar to its predecessors, the ZenWatch 3 is expected to come with Android Wear. Asus could announce the ZenWatch 3 at the upcoming IFA 2016 next month.