Kobo has released a top of the line e-reader: the Kobo Forma. The model, it appears, is not intended as an update to the Kobo Aura ONE (the Aura ONE is still listed on the Kobo website). Instead, it is meant to rival the Kindle Oasis but with a bigger screen. The device looks a lot like the Kindle Oasis and is priced similar too.
The Forma also supports landscape reading (I never understood why Kobo never supported this basic feature), auto-rotates like the Oasis and is slightly larger than the Kobo Aura ONE (the Aura ONE's screen size is 7.8 inches; in comparison, the Forma is 8 inches).
In my opinion, the biggest difference is the Forma's E-Ink Mobius screen. E-Ink Mobius is a plastic-based screen that is lighter and more rugged than the glass-based E-Ink Carta that is now used on most e-readers.
I found this video of an unboxing of the Forma (it is in French but you get a rough idea on the Forma's design and functionality). From the video, it is clear that the Forma's design, in contrast to the Oasis, is more symmetrical and made of hard plastic. This might be a significant positive to many users that don't like the Oasis's large bump on one side and cold feel.