Kobo has discontinued their first generation Aura H2O, which is their first generation waterproof e-reader. This device first came out in 2014 and it was the last model that had an SD card to increase the internal storage. Kobo continues to sell the Kobo H2O edition 2, which debuted last year.
Kobo only has three e-readers in their current portfolio. The Kobo Aura One, Kobo Aura Edition 2 and Kobo Aura H2O Edition 2. It is expected that the company will release a new model in May, just in time for Mothers Day. There are also rumors swirling that they are developing a second generation five inch Mini e-reader that was designed to be sold in Walmart stores later this year.