Hue Essentials v2

I’m interested in purchasing the app to iPhone but then I read about v2 being released soon. If I buy v1, will I have to upgrade to v2? (should I wait?)
When is v2 released?

Premium is a one-time in-app purchase and will keep working with Hue Essentials 2.0. The 2.0 version will be an update to the existing app and you will keep your purchases.