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Google may have axed the original, revolutionary wearable following the end of its Explorer Program on January 19, but it looks like the Mountain View firm is just getting started with Google Glass.

In a Google+ announcement from earlier this year, the Glass team said that it was "graduating" from the testing grounds and becoming a full-fledged team at Google, adding, "we're thrilled to be moving even more from concept to reality...In the meantime, we're continuing to build for the future, and you'll start to see future versions of Glass when they're ready. (For now, no peeking.)"

Most consumers and possibly Google itself would agree that the first Glass was well ahead of its time. It was a prototype from Google's top-secret X labs and strived to involve developers heavily throughout its evolution with the Explorer Program.

But now, Google is moving beyond the Explorer Edition and developing the next generation of Glass under the guidance of Nest chief executive Tony Fadell. The new version, rumored to be called the Enterprise Edition, and seemingly targeted more explicitly at business, is in the works.

Google Glass 2: release date, price and key facts

This is the next version of Google Glass, reportedly called "Enterprise Edition"

Release date: There's still a chance we'll get an official unveiling in 2015, but Google I/O in May 2016 seems the earliest plausible date to us.

Price: When it was still available through the Explorer Program, the original Glass cost a hefty sum of $1,500 (about £1,000, AU$1,350.) It's possible that Google Glass 2 will be manufactured in greater numbers than the Explorer Edition, in which case it should be cheaper thanks to economies of scale. However, if Google intends to keep it as a niche, work-related product, that may not be the case.

• Here's what users of the original Google Glass would like to see in Google Glass 2.

Google Glass 2 spec

Details are limited but naturally, Google is aiming to make internal improvements with its next wearable. It's said to be ditching Texas Instruments and powering Google Glass 2 with an Intel processor instead.