We caught wind of an FCC filing for the ZenWatch 3 the other day with an interesting quirk—the label was round. That would imply a round watch, but the device was being kept confidential. The Chinese version of the FCC, known as TENAA, was not as careful and has leaked images of the ZenWatch 3 in all its round, grainy glory.
So, clearly this is indeed a round watch. Asus has gone with a three-button design, like the most recent LG Watch Urbane. The screen is off, so we don't know for sure what the bezel situation is like, but it looks better than the first two ZenWatches at any rate. The case also has a handsome gunmetal/bronze finish. On the bottom there are two small contacts for the charging dock.
The design of the lugs is unusual; they're large and jut out from the body of the watch rather far. Although, they extend down from the bottom of the watch a bit, which usually makes for a better fit on small wrists. It looks like a solid improvement over the ZenWatch 2 design, but we'll have to wait for the announcement to get a better look.