While the streamlined tripod-less design is likely the first thing you'll notice, the key improvement being made to the Gear360 experience comes with the quality of the footage being taken.
The new Gear 360 is equipped with 8.4-megapixel image sensors and Bright Lens F2.2 on both dual fisheye lenses, the Gear 360 can create high resolution image and record video footage at 4K quality.
"As consumers turn more to video to share their experiences, we want to deliver accessible and innovative products to make digital content easier to create, share and stream," said Younghee Lee, Executive Vice President of Global Marketing and Wearable Business, Mobile Communications at Samsung Electronics.
"The updated Gear 360 will continue to expand the horizons of what consumers can experience and share."
The new camera will also feature improvements when it comes to social integration. It'll feature support for real-time content sharing to Facebook and YouTube.
Australian pricing and availability to be confirmed.