Two-phase flow can show different flow patterns in a microchannel based on the flow rates of phases. Some of the major flow patterns are bubbly/fine droplets, slug or Taylor, and annular flow. Different flow patterns are desirable in different kinds of processes, such as mixing, heating, cooling, and reactions. Annular flow regime typically occurs when the flow rate of dispersed phase is significantly high. In annular flow, a gas or liquid core is surrounded by a thin liquid film. The change in film thickness affects heat and mass transfer rates, mixing, and overall reaction rate. The introduction of a U-bend is often done to achieve a longer flow path and high residence time in microchannels. In this work, we study the effect of U-bend on film thickness analytically and derive a two-dimensional analytical solution for smooth interface two-phase annular flow at a circular bend in microchannels. Flow is assumed to be steady and fully developed. The momentum conservation equation is solved in cylindrical coordinates for three regions of annular flow: inner liquid, core gas or liquid, and outer liquid. Using the six boundary conditions, no-slip at the inner and outer walls, velocity continuity, and two shear stress continuity at the two interfaces, expressions are derived to obtain velocity profile in the three regions.