Xiaomi may just unveil the Mi Band 2 anytime now. At a conference in China, CEO Lei Jun was spotted wearing the device, and the gadget is equipped with an LCD display and a circular physical button.

Last fall, Xiaomi upgraded the Mi Band wearable with an optical heart rate monitor, but still retained a pocket-friendly price tag. Currently, the Mi Band activity tracker retails at an unbelievable basic price of $15.

Xiaomi's Mi Band and the Mi Band Pulse somehow catapulted the company's success in China's wearable market. Sold respectively at $15 and $16, there is no doubt that the Mi Bands are one of the company's most pocket-friendly wearable devices that were released to date.

Based on the photo released by MyDrivers, it seems like the upcoming Mi Band 2 will be a major upgrade from its older siblings. The purported LCD display should allow Mi users to view their heart rate and activity levels, as well as check on the current time. The circular physical button will most likely allow users to manipulate what information would show up on the panel and when they want to see such information.

The image also shows that the upcoming Mi Band 2 will feature a rubber strap, which is also found on one of its older siblings.

The new Mi Band 2 is expected to launch at the same or similarly competitive price that was seen on its predecessor and is highly likely to become publicly available before the launch of the MIUI 8.

In a tweet, Xiaomi said that the MIUI 8 is launching soon, on May 10. The company also included a YouTube link that would give users a sneak preview of the new notification shade.

The soon-to-be-launched MIUI 8 is expected to come equipped with the latest Android Marshmallow, as well as a number of revamped UI features.

Likewise, the MIUI 8 will most likely be featured first on the Mi Max, a device with a 6.4-inch display, which qualifies it to be Xiaomi's largest phablet to launch. The device will also be launching on May 10.

It remains to be seen if the upcoming Mi Band 2 will also be retailed at the same competitive price point of $15. Knowing the success of the previous activity tracker model, it can be safe to assume that the Mi Band 2 is geared once more to satisfy users' needs at a price that will never disappoint.

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