Xiaomi’s CEO, Lei Jun, was opportunely able to put forward the idea fueling Xiaomi’s success by elaborating on the meaning of the name of the company. By linking “Xiao” to the Buddhist concept of a single grain of a Buddhist being as great as a mountain and “mi” being an acronym for Mission Impossible referring to the obstacles encountered in starting the company, he brought forward Xiaomi’s idea of revolutionizing technology.

Xiaomi redefined the arena of wearable technology with their efficient, and low cost Mi Band. A superb device with basic features, Mi Band 1 managed to win the heart of millions of people across China and India.

The Mi Band 1s and the Mi Band 2 carried the baton further with more advanced and much requested features like an OLED screen, a pedometer and a heart rate sensor. The OLED screen allowed the users to check the time, amount of charge remaining, steps covered, heart rate, and other vital information. The improved companion app Mi Fit kept up with the improvements, providing per-app customized notification through vibrations.

A new leak suggests that the Xiaomi Mi Band 3 is on the horizon, although it fails to provide any advanced detail other than the features already built into Mi Band 2. As per the report, it is scheduled to be announced in 2017, and will have more than two versions up for sale.

Xiaomi Mi Band 3 conceptThe leaked concept art hints at a futuristic design, complete with a touch screen which would seemingly allow the user to control various functions of their smartphone through the watch. Owing to the improved design and features, the Mi Band 3 is also said to be more expensive than its predecessors, at $33.

Xiaomi is at the forefront of the innovative electronics market in China with offerings from lifestyle products like Air Purifiers to gadgets like the Xiaomi Notebook Air. With the price point as its chief marketing strategy, it will be interesting to watch how the market reacts to premium products from the Chinese technology giant.