Lei Jun, founder and CEO of China's mobile company Xiaomi, shows new features at launch ceremony of Xiaomi Phone 4 in Beijing
Lei Jun, founder and CEO of China's mobile company Xiaomi, shows the new features at a launch ceremony of Xiaomi Phone 4, in Beijing, July 22, 2014. China's Xiaomi unveiled on Tuesday its new flagship Mi 4 smartphone, aimed squarely at the premium handset market dominated by Apple Inc and Samsung Electronics Co Ltd. REUTERS

Almost all the leading smartphone brands have launched their iterations of smartwatches. Samsung Gear S, LG G Watch R, Moto 360, Sony SmartWatch 3 and Asus ZenWatch are some of the smartwatches that are easily available in the market. Apple is all set to release its Apple Watch in the beginning of 2015. Now, Xiaomi which is mainly for manufacturing high-end smartphones at affordable prices is also going to launch a smartphone in the near future.

Xiaomi also known as the Apple of China is ranking among the top 5 smartphone manufacturers of the world. According to the Times of India, Hugo Barra, the global president of Xiaomi has expressed through a YouTube video that Xiaomi fans will be surprised if they come to know what the company has been experimenting with. He added that among all things, the company has also experimented with smartwatches and they have still not decided whether they will be rolling out a Xiaomi smartwatch in the following months.

Apart from selling lowly priced smartphones like RedMi Note, Mi3 and Mi4, it also develops its firmware called MIUI for Xioami smartwatches and they also sell many accessories and other devices. MiBand is Xiaomi’s attempt into entering the world wearable devices. It is a waterproof fitness band that not only tracks sleep, but also has the ability to unlock the paired smartphone without entering the PIN. And now for the first time the company is considering manufacturing a smartwatch.

Android Headlines states that Xiaomi is approaching its fans to know what kind of features they would like to see on its smartwatch. Popular chipset marketing companies like Qualcomm and MediaTek have built compact sized chips that can be used in smaller wearable devices like smartwatches.

One of the reasons why Xiaomi may want to manufacture a smartwatch is that by doing so it will be able to build its overall brand presence, add Android Headlines. Xiaomi smartphones are highly popular in Asian countries and it plans to extend its business to other countries like Brazil, Mexico, Russia and so on in the near future.