Xiaomi's De Liu, Co-Founder and Vice President, is reported to have confirmed the Mi smartwatch at an event in Beijing.
Gizmo China reports that this is the first instance when the company has actually confirmed the existence of a smartwatch. Liu further said that Xiaomi has no plans to release automobiles, much like its Chinese rival LeEco. He added that the company has plans to launch electric bikes, and showcase new self-balancing devices such as the Ninebot mini.
On the company's strategy, Liu said Xiaomi looks to expand offline outlets in 2016 though he didn't specify whether the planned 60 offline outlets will be limited to just China or other markets as well.
Notably, this is not the first time Xiaomi's smartwatch has been in the news. Earlier this month, Huami Technology's CEO Wang, a Mi Ecosystem partner that had made the Mi Band wearable, had claimed that Mi smartwatch may launch alongside the new Mi Band. Some of the features tipped for the smartwatch included a large screen and health-related functions.
Unfortunately, no details about the specifications or pricing of the smartwatch are known as of now.
Xiaomi's Mi Band 2 was recently leaked in images ahead of official May 10 launch. Xiaomi's CEO Lei Jun was spotted wearing a smart band, believed to be the Mi Band 2. In the image, Jun was seen wearing a smart band featuring a display.