According to journalists from Latvian Television and Latvian Radio, several applicants are considering a run, though no-one has yet committed to such a move. Current President Egils Levits is deemed likely to seek a second term if he can be reasonably sure of victory, but he too has yet to confirm that he will put his name forward. Under the terms of the Latvian constitution, there is a two-term presidential limit.
From May 9 to 13 candidates can be nominated, the presidential vote will be held on May 31 and the new presidential term will begin on July 8.
In Latvia a president is not elected by popular vote, but by the 100 Saeima deputies, so campaigning involves a lot of jockeying and deal-making, usually behind closed doors, to win the necessary 51 votes to carry the day.
For a full account of how the president is chosen on voting day, check this story from our archives. In addition the official presidential website has plenty of information in English.