Xiaomi just unveiled a brand new wearable device, the Mi Band 2. Despite the name, it’s the company’s third fitness tracking device after the Mi Band and Mi Band Pulse. It track your steps, monitors your heart rate and (for the first time) features a tiny display. It costs RMB 149, or a little less than $23.

According to Xiaomi, the company has sold more than 20 million activity trackers already, making it the second largest fitness tracker company behind Fitbit. Like with other products, Xiaomi is able to capture market share with a very aggressive pricing strategy.

The Mi Band 2 is more expensive than its predecessors, but it’s also a bit fancier. The tiny black-and-white display displays time, your step count, your heart rate, as well as approximative distance and calorie counters. You can also use the device to monitor your sleep. Nothing groundbreaking if you’re familiar with activity trackers.

Interestingly, Xiaomi also borrowed a popular Apple Watch feature. If you’re sitting for too long, the Mi Band 2 will vibrate to remind you that you should move.

And if you have a Xiaomi phone, your phone detects if it is connected to your Mi Band so that you don’t need to type your passcode. If someone steals your phone and the Bluetooth device gets disconnected, the passcode is reactivated.

Today’s new device uses Bluetooth 4.0 to connect to your phone and battery lasts up to 20 days. It is water-resistant and the silicon bands are replaceable. Xiaomi is going to start selling the device in China on June 7.

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