Xiaomi's low-margin business model is paying off: it sold a record 34.7 million smartphones in the first half of 2015 alone (although it could fall short of its 100 million target for the year). The tracker has also fared well: it accounted for a quarter of all wearables sold in the first quarter of this year. At just $13, it can log your steps, track sleep and even unlock your (Android) phone.

Given Xiaomi's commitment to affordability, it's very likely that the Mi Band 1S will cost a lot less than other pulse-tracking wearables. And as it's already passed the necessary certifications in Taiwan, we probably won't have too long to wait for an official launch. You never know, Xiaomi might even sell it via its new US and European stores.