diff --git a/arch/arm/dts/k3-am65-iot2050-boot-image.dtsi b/arch/arm/dts/k3-am65-iot2050-boot-image.dtsi
index 27058370ccc..3135ad04715 100644
--- a/arch/arm/dts/k3-am65-iot2050-boot-image.dtsi
+++ b/arch/arm/dts/k3-am65-iot2050-boot-image.dtsi
@@ -1,6 +1,6 @@
 // SPDX-License-Identifier: GPL-2.0
 /*
- * Copyright (c) Siemens AG, 2020-2021
+ * Copyright (c) Siemens AG, 2020-2022
  *
  * Authors:
  *   Jan Kiszka <jan.kiszka@siemens.com>
@@ -17,7 +17,11 @@
 
 		blob-ext@0x000000 {
 			offset = <0x000000>;
-			filename = "tiboot3.bin";
+#ifdef CONFIG_TARGET_IOT2050_A53_PG1
+			filename = "seboot_pg1.bin";
+#else
+			filename = "seboot_pg2.bin";
+#endif
 			missing-msg = "iot2050-seboot";
 		};
 
@@ -43,42 +47,30 @@
 				};
 
 				fdt-iot2050-basic {
-					description = "k3-am6528-iot2050-basic.dtb";
+					description = "k3-am6528-iot2050-basic*.dtb";
 					type = "flat_dt";
 					arch = "arm64";
 					compression = "none";
 					blob {
+#ifdef CONFIG_TARGET_IOT2050_A53_PG1
 						filename = "arch/arm/dts/k3-am6528-iot2050-basic.dtb";
-					};
-				};
-
-				fdt-iot2050-basic-pg2 {
-					description = "k3-am6528-iot2050-basic-pg2.dtb";
-					type = "flat_dt";
-					arch = "arm64";
-					compression = "none";
-					blob {
+#else
 						filename = "arch/arm/dts/k3-am6528-iot2050-basic-pg2.dtb";
+#endif
 					};
 				};
 
 				fdt-iot2050-advanced {
-					description = "k3-am6548-iot2050-advanced.dtb";
+					description = "k3-am6548-iot2050-advanced*.dtb";
 					type = "flat_dt";
 					arch = "arm64";
 					compression = "none";
 					blob {
+#ifdef CONFIG_TARGET_IOT2050_A53_PG1
 						filename = "arch/arm/dts/k3-am6548-iot2050-advanced.dtb";
-					};
-				};
-
-				fdt-iot2050-advanced-pg2 {
-					description = "k3-am6548-iot2050-advanced-pg2.dtb";
-					type = "flat_dt";
-					arch = "arm64";
-					compression = "none";
-					blob {
+#else
 						filename = "arch/arm/dts/k3-am6548-iot2050-advanced-pg2.dtb";
+#endif
 					};
 				};
 
@@ -108,30 +100,12 @@
 #endif
 				};
 
-				conf-iot2050-basic-pg2 {
-					description = "iot2050-basic-pg2";
-					firmware = "u-boot";
-					fdt = "fdt-iot2050-basic-pg2";
-#ifdef CONFIG_WDT_K3_RTI_FW_FILE
-					loadables = "k3-rti-wdt-firmware";
-#endif
-				};
-
 				conf-iot2050-advanced {
 					description = "iot2050-advanced";
 					firmware = "u-boot";
 					fdt = "fdt-iot2050-advanced";
 #ifdef CONFIG_WDT_K3_RTI_FW_FILE
 					loadables = "k3-rti-wdt-firmware";
-#endif
-				};
-
-				conf-iot2050-advanced-pg2 {
-					description = "iot2050-advanced-pg2";
-					firmware = "u-boot";
-					fdt = "fdt-iot2050-advanced-pg2";
-#ifdef CONFIG_WDT_K3_RTI_FW_FILE
-					loadables = "k3-rti-wdt-firmware";
 #endif
 				};
 			};
@@ -150,28 +124,24 @@
 			fill-byte = [00];
 		};
 
-		/* PG1 sysfw, basic variant */
+		/* sysfw, basic variant */
 		blob-ext@0x6c0000 {
 			offset = <0x6c0000>;
-			filename = "sysfw.itb";
+#ifdef CONFIG_TARGET_IOT2050_A53_PG1
+			filename = "sysfw_sr1.itb";
+#else
+			filename = "sysfw_sr2.itb";
+#endif
 			missing-msg = "iot2050-sysfw";
 		};
-		/* PG1 sysfw, advanced variant */
+		/* sysfw, advanced variant */
 		blob-ext@0x740000 {
 			offset = <0x740000>;
-			filename = "sysfw.itb_HS";
-			missing-msg = "iot2050-sysfw";
-		};
-		/* PG2 sysfw, basic variant */
-		blob-ext@0x7c0000 {
-			offset = <0x7c0000>;
-			filename = "sysfw_sr2.itb";
-			missing-msg = "iot2050-sysfw";
-		};
-		/* PG2 sysfw, advanced variant */
-		blob-ext@0x840000 {
-			offset = <0x840000>;
+#ifdef CONFIG_TARGET_IOT2050_A53_PG1
+			filename = "sysfw_sr1.itb_HS";
+#else
 			filename = "sysfw_sr2.itb_HS";
+#endif
 			missing-msg = "iot2050-sysfw";
 		};
 	};
diff --git a/board/siemens/iot2050/Kconfig b/board/siemens/iot2050/Kconfig
index 063142a43bf..a2b40881d11 100644
--- a/board/siemens/iot2050/Kconfig
+++ b/board/siemens/iot2050/Kconfig
@@ -1,20 +1,40 @@
 # SPDX-License-Identifier: GPL-2.0+
 #
-# Copyright (c) Siemens AG, 2018-2021
+# Copyright (c) Siemens AG, 2018-2022
 #
 # Authors:
 #   Le Jin <le.jin@siemens.com>
 #   Jan Kiszka <jan.kiszka@siemens.com>
 
-config TARGET_IOT2050_A53
-	bool "IOT2050 running on A53"
+choice
+        prompt "Siemens SIMATIC IOT2050 boards"
+        optional
+
+config TARGET_IOT2050_A53_PG1
+	bool "IOT2050 PG1 running on A53"
+	select IOT2050_A53_COMMON
+	help
+	  This builds U-Boot for the Product Generation 1 (PG1) of the IOT2050
+	  devices.
+
+config TARGET_IOT2050_A53_PG2
+	bool "IOT2050 PG2 running on A53"
+	select IOT2050_A53_COMMON
+	help
+	  This builds U-Boot for the Product Generation 2 (PG2) of the IOT2050
+	  devices.
+
+endchoice
+
+config IOT2050_A53_COMMON
+	bool
 	select ARM64
 	select SOC_K3_AM654
 	select BOARD_LATE_INIT
 	select SYS_DISABLE_DCACHE_OPS
 	select BINMAN
 
-if TARGET_IOT2050_A53
+if IOT2050_A53_COMMON
 
 config SYS_BOARD
 	default "iot2050"
diff --git a/board/siemens/iot2050/board.c b/board/siemens/iot2050/board.c
index 8f4b0eae495..dbf893000a7 100644
--- a/board/siemens/iot2050/board.c
+++ b/board/siemens/iot2050/board.c
@@ -55,14 +55,6 @@ static bool board_is_advanced(void)
 		strstr((char *)info->name, "IOT2050-ADVANCED") != NULL;
 }
 
-static bool board_is_sr1(void)
-{
-	struct iot2050_info *info = IOT2050_INFO_DATA;
-
-	return info->magic == IOT2050_INFO_MAGIC &&
-		!strstr((char *)info->name, "-PG2");
-}
-
 static void remove_mmc1_target(void)
 {
 	char *boot_targets = strdup(env_get("boot_targets"));
@@ -109,12 +101,12 @@ void set_board_info_env(void)
 	}
 
 	if (board_is_advanced()) {
-		if (board_is_sr1())
+		if (IS_ENABLED(CONFIG_TARGET_IOT2050_A53_PG1))
 			fdtfile = "ti/k3-am6548-iot2050-advanced.dtb";
 		else
 			fdtfile = "ti/k3-am6548-iot2050-advanced-pg2.dtb";
 	} else {
-		if (board_is_sr1())
+		if (IS_ENABLED(CONFIG_TARGET_IOT2050_A53_PG1))
 			fdtfile = "ti/k3-am6528-iot2050-basic.dtb";
 		else
 			fdtfile = "ti/k3-am6528-iot2050-basic-pg2.dtb";
diff --git a/configs/iot2050_defconfig b/configs/iot2050_pg1_defconfig
similarity index 99%
copy from configs/iot2050_defconfig
copy to configs/iot2050_pg1_defconfig
index 4ae85f391b7..3dfebedfb97 100644
--- a/configs/iot2050_defconfig
+++ b/configs/iot2050_pg1_defconfig
@@ -8,7 +8,7 @@ CONFIG_SPL_LIBCOMMON_SUPPORT=y
 CONFIG_SPL_LIBGENERIC_SUPPORT=y
 CONFIG_NR_DRAM_BANKS=2
 CONFIG_SOC_K3_AM654=y
-CONFIG_TARGET_IOT2050_A53=y
+CONFIG_TARGET_IOT2050_A53_PG1=y
 CONFIG_ENV_SIZE=0x20000
 CONFIG_ENV_OFFSET=0x680000
 CONFIG_ENV_SECT_SIZE=0x20000
diff --git a/configs/iot2050_defconfig b/configs/iot2050_pg2_defconfig
similarity index 97%
rename from configs/iot2050_defconfig
rename to configs/iot2050_pg2_defconfig
index 4ae85f391b7..4eba7a3476d 100644
--- a/configs/iot2050_defconfig
+++ b/configs/iot2050_pg2_defconfig
@@ -8,13 +8,13 @@ CONFIG_SPL_LIBCOMMON_SUPPORT=y
 CONFIG_SPL_LIBGENERIC_SUPPORT=y
 CONFIG_NR_DRAM_BANKS=2
 CONFIG_SOC_K3_AM654=y
-CONFIG_TARGET_IOT2050_A53=y
+CONFIG_TARGET_IOT2050_A53_PG2=y
 CONFIG_ENV_SIZE=0x20000
 CONFIG_ENV_OFFSET=0x680000
 CONFIG_ENV_SECT_SIZE=0x20000
 CONFIG_DM_GPIO=y
 CONFIG_SPL_DM_SPI=y
-CONFIG_DEFAULT_DEVICE_TREE="k3-am6528-iot2050-basic"
+CONFIG_DEFAULT_DEVICE_TREE="k3-am6528-iot2050-basic-pg2"
 CONFIG_SPL_TEXT_BASE=0x80080000
 CONFIG_SYS_PROMPT="IOT2050> "
 CONFIG_SPL_SERIAL=y
@@ -74,6 +74,7 @@ CONFIG_SPL_OF_LIST="k3-am65-iot2050-spl"
 CONFIG_SPL_MULTI_DTB_FIT_NO_COMPRESSION=y
 CONFIG_ENV_IS_IN_SPI_FLASH=y
 CONFIG_SYS_REDUNDAND_ENVIRONMENT=y
+CONFIG_DM=y
 CONFIG_SPL_DM=y
 CONFIG_SPL_DM_SEQ_ALIAS=y
 CONFIG_SPL_REGMAP=y
diff --git a/doc/board/siemens/iot2050.rst b/doc/board/siemens/iot2050.rst
index 7e97f817ce4..fd3431fa3f8 100644
--- a/doc/board/siemens/iot2050.rst
+++ b/doc/board/siemens/iot2050.rst
@@ -24,9 +24,10 @@ Binary dependencies can be found in
 https://github.com/siemens/meta-iot2050/tree/master/recipes-bsp/u-boot/files/prebuild.
 The following binaries from that source need to be present in the build folder:
 
- - tiboot3.bin
- - sysfw.itb
- - sysfw.itb_HS
+ - seboot_pg1.bin
+ - sysfw_sr1.itb
+ - sysfw_sr1.itb_HS
+ - seboot_pg2.bin
  - sysfw_sr2.itb
  - sysfw_sr2.itb_HS
 
@@ -57,7 +58,13 @@ U-Boot:
 
  $ export ATF=/path/to/bl31.bin
  $ export TEE=/path/to/tee-pager_v2.bin
- $ make iot2050_defconfig
+
+ # configure for PG1
+ $ make iot2050_pg1_defconfig
+
+ # or configure for PG2
+ $ make iot2050_pg2_defconfig
+
  $ make
 
 Flashing
