Chinese tech giant Xiaomi is reportedly preparing to launch a new series of Mi devices and upgrades this year. Tech analysts believe that Xiaomi will release the new Xiaomi Max, a revamped MIUI 8 interface, a new chipset, and the highly rumored Xiaomi UnionPay mobile payment service.

Aside from the above mentioned devices and upgrades, some analysts are also expecting the Chinese tech giant to release the Mi Smartwatch. Many tech experts have been anticipating the release of the Xiaomi Mi Smartwatch since rumors about the Millet smartwatch began to emerge a couple of years ago.

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Xiaomi vice president Liu De has hinted that the Mi Smartwatch is almost ready. There are speculations that the company might unveil the device during the second quarter of this year. So far, no definitive specs have leaked regarding the rumored smartwatch from Xiaomi.

Regarding the price of the Xiaomi Mi Smartwatch, experts believe that it will be more affordable than most devices that are currently available in the market. Xiaomi is yet to confirm this, but based on the company's previous device - the Mi Bunny marketed for children - it should be well below the $50 price range.

Xiaomi has confirmed that it is working together with Zhidx.com to develop a new fitness tracker device which is yet to be named.

There are reports that Xiaomi is making a move towards the chipset market. If this is true, the tech giant will go head-to-head against probably the biggest player in the mobile chipset market right now, Qualcomm.

Xiaomi is finalizing the release of its own mobile processor. Dubbed the Rifle, the mobile chipset is set to be unveiled on May 10. Moreover, the chipset is believed to license the ARM architecture.

TagsXiaomi, Xiaomi Smartphone, Xiaomi new smartphone, Xiaomi tablet, Xiaomi products, Xiaomi chipset, Xiaomi fitness tracker, Xiaomi smartwatch