The original Huawei Watch was one of the best Android Wear devices you could buy in 2015, and it's still a popular watch to this day (mostly for lack of better options). Its successor came out a year ago, but it was a disappointment in almost every regard. The bulkier frame, uninspired sporty design, and small screen made it a downgrade from the original in many respects.
Despite all this, Huawei CEO Richard Yu said in an interview that the Watch 2 is selling well, and the company is in no rush to replace it. He told TechRadar, "[The Huawei Watch 3] will come later - there’s no hurry because Huawei Watch 2 sells well. We’re not in a hurry, so we’re launching the new watch later."
Truth be told, the Watch 2 isn't outdated by any means. Considering Qualcomm hasn't released a new SoC for wearables in some time, and Android Oreo is already rolling out to the Watch 2, the only changes would be in the design.