Xiaomi has a big event set for Nov. 24 and it now seems the company has more exciting news to announce. The first ever Xiaomi smartwatch could make its debut at the event as well.

We already know that the Xiaomi Redmi Note 2 Pro and Mi Pad 2 will become official at the event, as Xiaomi President Lin Bin posted enticing teasers over the past few days.

As the unveiling event draws closer, more information is now coming to light. Xiaomi made no mention so far regarding a new wearable set to debut at the event, but a new leak nonetheless claims that the company will announce its first smartwatch on Nov. 24.

The Mi Watch, or whatever it may be called, should come at an affordable price point in typical Xiaomi fashion. The Chinese device maker already has successful wearables with its two Mi Band iterations and joining the smartwatch race would make sense. The Mi Watch could run either Android Wear or some tailored version of Xiaomi's MIUI, but it remains unclear at this point.

Trusted tipster Leaksfly only revealed on Weibo that a Xiaomi smartwatch is due Nov. 24, but did not offer any additional details on the matter. This means that this purported Mi Watch is still shrouded in mystery for now, with no information on its specs, software or price.

Either way, the wearable device market is constantly growing and Xiaomi could be a notable competitor if it comes up with a compelling device at a budget price point.

Aside from the purported Mi Watch and the highly anticipated Xiaomi Mi Note 2 Pro and Mi Pad 2, some rumors also hint at a potential Mi 5 unveiling at the event as well. The Xiaomi Mi 5 is expected to pack the latest Qualcomm Snapdragon 820 chipset, which will likely not start shipping until next year. That said, there is a possibility for the Mi 5 to make an appearance on Nov. 25 and launch commercially in 2016, but a later unveiling may be more plausible.

Nevertheless, Xiaomi's big event is just around the corner, which means that the official scoop will be available in just a few days. In the meantime, take all leaks and rumors with a grain of salt.