Xiaomi Logo
The Xiaomi logo is seen in a Xiaomi shop in Beijing on November 7, 2018. Getty Images/Nicolas Asfouri

Xiaomi has finally unveiled its Apple Watch competitor, the Mi Watch, and announced its features, actual release date and price. Read on for more details.

Chinese tech company Xiaomi has finally unveiled its new smartwatch, the Mi Watch. The new wearable looks similar to the Apple Watch thanks to its square-shaped body and the crown on the right-hand side, but it's very different from Cupertino's offering in a variety of ways.

First, Xiaomi's new wearable has a 1.78-inch AMOLED always-on display fitted in a 44mm case. This case has an aluminum alloy frame, a ceramic back and “toughened curved glass” in front. A limited edition “Exclusive” variant has Sapphire Glass in lieu of the curved glass. It doesn't come in other sizes, and doesn't offer an all-ceramic body unlike the Apple Watch.

Second, the Mi Watch runs on Wear OS and features Xiaomi's custom MIUI for Watch user interface. The company, as per Android Central, says the Mi Watch has over 100 different watch faces users can choose from, and has more than 40 apps including those that can be used for operate Xiaomi's smart home appliances. It's unclear if the Mi Watch's straps are replaceable.

Third, the Mi Watch is powered by the Snapdragon Wear 3100 platform, backed by 1GB of RAM and 8GB onboard storage. It has eSIM support so that users can use it to stay connected via 4G networks. The device also has Bluetooth and Wi-Fi for connectivity, as well as sensors for GPS, sleep tracking, heart rate and blood oxygen monitoring. It can also be used in making payments via NFC.

Fourth, the Chinese tech giant proudly boasted that the 570 mAh battery inside the Mi Watch allows it to run for 36 hours on a single charge. This battery “is the biggest cell ever put in a smartwatch,” Xiaomi said. It's unclear, though, if the battery will indeed last a full 36 hours with all the device's functions turned on.

Lastly and most importantly, the Mi Watch is expected to be released in China on Nov. 11, and will be sold at a very appealing price: 1,299 yuan or about $185 USD – “less than half the price of its Apple counterpart,” Android Authority noted. The more expensive Mi Watch Exclusive version, which comes with stainless steel bezels and chain strap, is still cheaper at 1,999 yuan or about $285 USD.