diff --git a/platform/include/platform/mbed_version.h b/platform/include/platform/mbed_version.h
index a61403daef8..c9388455914 100644
--- a/platform/include/platform/mbed_version.h
+++ b/platform/include/platform/mbed_version.h
@@ -38,14 +38,14 @@
   *
   * @note 99 is default value for development version (master branch)
   */
-#define MBED_MINOR_VERSION 2
+#define MBED_MINOR_VERSION 3
 
 /** MBED_PATCH_VERSION
   * Mbed OS patch version
   *
   * @note 99 is default value for development version (master branch)
   */
-#define MBED_PATCH_VERSION 1
+#define MBED_PATCH_VERSION 0
 
 #define MBED_ENCODE_VERSION(major, minor, patch) ((major)*10000 + (minor)*100 + (patch))