Mi Band 2, Mi Power Bank and other Xiaomi accessories available offline
Mi Band 2, Mi Power Bank and other Xiaomi accessories available offlineTwitter/Manu Jain

After a long wait, Xiaomi finally launched its Mi Band 2 fitness tracker in China on Thursday, adding a new competition to the growing wearables market. The company's CEO Lei Jun had already revealed Mi Band 2's availability starting June 7, but features and specifications of the wearable weren't known until now.

The Chinese electronics manufacturer revealed all the details about the Mi Band 2, including its price and features. The new wearable comes with significant upgrades over its predecessor, Mi Band, such as OLED display, heart rate sensor and an enhanced pedometer algorithm to accurately track wearer's activities.

Xiaomi Mi Band 2 is priced at ¥149 (approximately Rs. 1,500 or $22). The company hasn't shared details about the wearable's international availability in markets such as India and the U.S.

Like the original Mi Band and other fitness trackers, the Mi Band 2 pairs with smartphones via Bluetooth and it can track user's health, fitness and sleeping routine. The major highlight of the Mi Band 2 is its 0.42-inch OLED display, which shows time, the number of steps taken and the heart rate count recorded by the PPG (photoplethysmography) sensor in the band.

There is an anodised 0.5mm button at one end of the display to toggle between different modes, which can reduce reliance on smartphone for basic navigation. Wearers can wake up the display of the Mi Band 2 by just lifting the wrist or tapping the button.

Xiaomi Mi Band 2 is powered by a 70mAh battery, which the company claims to offer up to 20 days of standby, which is shorter than the Mi Band's up to 30 days of battery life. But the inclusion of a display in the Mi band 2 has to absorb more power than the original wearable.

Xiaomi Mi Band 2 is made of military-grade materials and hypoallergic silicone band. The device weighs just 7 grams and it is IP67 certified for water resistant, which means users can wear it during showers as well. The tracker also has customisable alerts to give a nudge when sitting for a long time.