watchOS 3.2 (build 14V5235b) is an official Apple over-the-air update for the Apple Watch Series 1 (38mm). The update package is 19.4 MB. This is a delta (partial) update that requires 3.2 already installed. This update is no longer signed by Apple, meaning it can no longer be applied on-device through Settings.

Payload file: 9fab3ebb02afb1631a3bd3691e546a20a1bf794d.zip.