Xiaomi Inc. used a Tuesday product launch to introduce its first wearable device, which takes the form of a smart wristband.
The device, called the Mi Band, will be available for $13, a move representing the Chinese electronics company's low-price strategy, according to PCWorld.
"I believe this wristband will very soon become the world's best selling wristband," Lei Jun, CEO of Xiaomi, said at the event.
Mi Band is designed to be a fitness tracker, and has the ability to automatically unlock the user's smartphone when it is nearby. Lei said this feature makes it so users don't have to always input their passwords into their handsets.
While showing off the wristband, Jun said he tried a lot of similar devices in the past, but wasn't satisfied with any of them. He added that his company brought on several features to make sure their fitness band stood out among its competitors. These additions include lasting 30 days on a full charge and being waterproof with an IP67 standard, The Next Web reported.
Xiaomi has become one of the biggest smartphone makers in China, taking the spot of third largest smartphone maker in this year's first quarter, outranking Apple in the process, PCWorld reported. The company is able to keep up its popularity by making its products affordable, selling them just above cost.
The company aims at cutting costs by selling its products through its own online store, and usually promotes them through word-of-mouth.
While the "fitness" aspect of Mi Band was hardly discussed, Jun said he plans to have the device function as a personal ID in the future, giving it abilities like unlocking the door when the user comes home or switching on smart gadgets and appliances, The Next Web reported.
Xiaomi did not reveal when it will make Mi Band available or when it will launch the fitness band, PCWorld reported. However, the company did share its plans to expand into markets in other countries, including the U.S.
"We want Xiaomi to become an international brand that Chinese people can be proud of," Jun said.
