Taking a cue from Apple Inc., Chinese tech manufacturer Xiaomi seems to be planning to launch a new product line. After launching its flagship smartphone Redmi 2 and a low-end 16-MP Yi Action Camera at the Mobile World Congress 2015 in Barcelona, Spain, earlier this month, the company, also referred to as "China's Apple," is said to be working on a smartwatch.

According to Tech Radar, the news in this regard was first made public by the Chinese tech website 36Krypton, which claimed that the Xiaomi smartwatch will come with a large round dial and it may also offer pulse wave velocity identification. Since the Xiaomi smartwatch is said to have a round dial, it will certainly have a different look from the Apple Watch.

The Chinese website further stated that the upcoming smartphone is likely to have a brushed metal design - something similar to the one on the rear of HTC One M9. The wearable device is also expected to be made of quality material to make it competitive with other smartwatches already available on the market.

It is also expected that the Xiaomi smartwatch will be powered by Google's Android Wear operating system.

While not much information regarding the purported smartwatch is available at the moment, it is believed that like the other products of Xiaomi, its wearable device will also carry an affordable price tag.

However, the upcoming smartwatch will not be the first wearable product from Xiaomi, as it is already selling the Mi Band, a fitness band. Similar to most other fitness trackers in the market, the Xiaomi Mi Band is also a water-resistant wearable that tracks user movements and sleeping patterns. It is reported that the company is currently working on the next edition of the Mi Band.