diff --git a/docs/development/releasing.md b/docs/development/releasing.md
index bf88f7dd22..61a031b430 100644
--- a/docs/development/releasing.md
+++ b/docs/development/releasing.md
@@ -2,8 +2,6 @@ Releasing is a 3-step process.
 
 # 1. Create a release branch
 
-1. Bump a version to the new `-post` version and land a `chore: cut vX.Y.Z-post version` commit
-  - `./utils/update_version.js vX.Y.Z-post`
 1. On your local machine, create a new branch `release-X.Y` based off the "cutting" commit and land a `chore: mark vX.Y.Z` in the local branch:
   - `git checkout master`
   - `git checkout -b release-X.Y`
@@ -32,3 +30,7 @@ Once release branch is pushed, it's last commit will be picked up by our CI/CD:
 
 Once release is published, the [`publish_release`](../../.github/workflows/publish_release.yml) will kick in and publish package version on NPM.
 
+# 4. Bump version on trunk to next
+
+1. Bump a version to the new `-next` version and land a `chore: cut vX.Y.Z-post version` commit on trunk
+  - `./utils/update_version.js vX.Y.Z-next`
diff --git a/package-lock.json b/package-lock.json
index 150ba75685..6035098720 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,6 +1,6 @@
 {
   "name": "playwright-internal",
-  "version": "1.5.0-post",
+  "version": "1.6.0-next",
   "lockfileVersion": 1,
   "requires": true,
   "dependencies": {
diff --git a/package.json b/package.json
index f4428f1d1a..dae566b3ce 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
   "name": "playwright-internal",
   "private": true,
-  "version": "1.5.0-post",
+  "version": "1.6.0-next",
   "description": "A high-level API to automate web browsers",
   "repository": "github:Microsoft/playwright",
   "homepage": "https://playwright.dev",
diff --git a/utils/update_version.js b/utils/update_version.js
index b0492d2915..cfc74724e8 100755
--- a/utils/update_version.js
+++ b/utils/update_version.js
@@ -28,7 +28,7 @@ const USAGE = `
 
   Examples:
     ${SCRIPT_NAME} v1.0.0
-    ${SCRIPT_NAME} v1.0.0-post
+    ${SCRIPT_NAME} v1.0.0-next
     ${SCRIPT_NAME} --next
 `;
 
@@ -46,13 +46,10 @@ let version = process.argv[2];
 if (version === '--next') {
   const packageJSON = require('../package.json');
   version = packageJSON.version;
-  const dashIndex = version.indexOf('-');
-  if (dashIndex !== -1)
-    version = version.substring(0, dashIndex);
-  version += '-next.' + Date.now();
+  version += '.' + Date.now();
   console.log('Setting version to ' + version);
 } else {
-  if (!version || !version.match(/^v\d+\.\d+\.\d+(-post)?$/)) {
+  if (!version || !version.match(/^v\d+\.\d+\.\d+(-next)?$/)) {
     console.error(`Malformed version "${version}". Use --help for details.`);
     process.exit(1);
   }