Xiaomi is working on a smartwatch that will be released later this year.

The co-founder and VP of Xiaomi, Liu De, has confirmed that the company is working on a smartwatch, Gizmo China reported. The news about Xiaomi smartwatch had started in March 2015. Rumors had also suggested that the smartwatch would be launch in November last year, which did not happen. However, the company remained silent on it and did not reveal any information.

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De confirmed on the existence of the company's first ever smartwatch at a press conference in Beijing. He did not reveal any information on the specifications and features of Xiaomi smartwatch but confirmed that it would be release in the second half of this year.

Previous rumors have indicated that the Xiaomi smartwatch will be sporting a brushed metal appeal. It is also speculated to house a round-shaped dial. Rumors also hint it will be arriving with a new biometric recognition feature of pulse wave velocity identification.

As of this writing, there is no confirmation on the OS platform for the Xiaomi smartwatch. The Chinese company uses Android on its devices but it is known for avoiding Google services. Hence, it is uncertain whether Xiaomi smartwatch will run on Android Wear, Phone Arena reported.

Xiaomi Mi Band and Mi Band 1s wearable devices have helped the Chinese company to become one of the best wearable firms in the world. Hence, tech enthusiasts are expecting a lot from the upcoming Xiaomi smartwatch.

Xiaomi will be holding a launch event on May 10. It is expected to three products, namely, Xiaomi Mi Max phablet, MIUI 8 software and Mi Band 2 wearable device.

The Xiaomi Mi Max will be sporting a huge display of 6.4-inch that will support Quad HD resolution. It is rumored to be powered by Snapdragon 820. It is expected to arrive with Android 6.0 Marshmallow OS modified with the all new MIUI 8 interface.

The Mi Band and Mi Band 1s did not feature an LED display, but the upcoming Mi Band 2 will feature it. Also, it will be equipped with a physical button that will allow users to access various health tracking features like sleep monitoring, steps walked and so on. It is also expected to come with an optical heart rate sensor and water resistant chassis.