A phone called the V1936A has appeared on the TENAA regulatory database. It appears to have the same specs as the iQOO Neo, and is listed under the same brand besides. However, it does have an updated processor: it is the 2.842GHz SD 855, rather than its predecessor the 845 as in the pre-existing gaming phone.
Therefore, it appears that this new V1936A is also of the Neo series. Should this be the case, it is more of a late-year refresh than a legitimate second generation. This should not be a truly surprising strategy, as many other 'gaming' brands have done much the same this year. These devices, which include the Black Shark 2 Pro and the Red Magic 3S, exist in order to offer the updated SD 855 Plus processor in their 2019 form factors.
The iQOO Neo, on the other hand, is pitched as more of an affordable gaming device: therefore, it makes sense to stick with the SD 855 in its own second album. Then again, the new TENAA listing has also leaked a unique color for the new phone: a white or pale gray with an original blue gradient effect. Its probable predecessor, on the other hand, came in black or a considerably darker purple.