diff --git a/Makefile b/Makefile
index 55996810a0..4a01720d02 100755
--- a/Makefile
+++ b/Makefile
@@ -14,10 +14,10 @@
 
 # Bump these on release - and please check ISO_VERSION for correctness.
 VERSION_MAJOR ?= 1
-VERSION_MINOR ?= 1
-VERSION_BUILD ?= 1
+VERSION_MINOR ?= 2
+VERSION_BUILD ?= 0
 # Default to .0 for higher cache hit rates, as build increments typically don't require new ISO versions
-ISO_VERSION ?= v$(VERSION_MAJOR).$(VERSION_MINOR).1
+ISO_VERSION ?= v$(VERSION_MAJOR).$(VERSION_MINOR).0
 
 VERSION ?= v$(VERSION_MAJOR).$(VERSION_MINOR).$(VERSION_BUILD)
 DEB_VERSION ?= $(VERSION_MAJOR).$(VERSION_MINOR).$(VERSION_BUILD)