Xiaomi’s first smartwatch launching later this year, company co-founder reveals

Xiaomi’s already got a solid wearable device with its Mi Band fitness tracker. Now the company may be ready to take the next step by releasing a full-fledged smartwatch to compete with the Apple Watch and Android Wear.

Xiaomi co-founder Liu De confirmed this week that the company is planning to launch its smartwatch later this year, GizmoChina reports. That’s the first time anyone from the Chinese startup has publicly discussed the device, though rumors have been floating around for over a year.

The device allegedly packs a brushed metal design, a round display and a heart rate monitor, along with the usual fitness tracking sensors. It’s allegedly set to run a modified version of Xiaomi’s Android-based MiUI software.

The Xiaomi smartwatch is set to arrive in the second half of 2016, potentially in just a few months. However, that means we probably won’t see it unveiled during the company’s big event next month where its Mi Max smartphone and Mi Band 2 are expected to debut.

Liu also noted that Xiaomi won’t be diving into the electric vehicle market anytime soon, unlike its Chinese rival LeEco. However, the company is still interested in short-distance travel. In fact, it already offers a self-balancing “hoverboard” called Ninebot and a $3,000 electric bicycle.