Occasionally called "Apple of China" or "Chinese Apple" for the similarity of its products with those of the company led by Tim Cook, Xiaomi, the main smartphone manufacturer in the Asian country, will launch a smartwatch in 2016 and the goal is to compete with the American rival.

There were already rumors that the company had been working on the gadget since the beginning of 2015. However, only now has the company confirmed that it plans to launch a similar product later this year. 

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According to the site Gizmo China, Xiaomi co-founder Liu De, said at a conference in Beijing that the company is developing a smartwatch that will go by the name "Mi".

In addition to a possible name and release forecast, Xiaomi did not reveal any further details about the novelty.