After Mi Band and Mi Band Pulse, Xiaomi has launched its third fitness tracker, the Mi Band 2. The device comes with a tiny screen unlike the earlier versions, in addition to features that monitor the heart rate and track footsteps. The Mi Band 2 will cost no more than $23 when it hits the stores.

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Through its competitive pricing mechanism, the company has already sold more than 20 million activity trackers, according to Tech Crunch, making it second to Fitbit in the field. However, due to Mi Band 2's fancy look and added abilities, admirers will have to dig a little bit deeper in their pockets, about $7 more to get their hands on one. The tiny monitor displays heart rate, time, step count, approximative distance, calorie counters, and sleep monitor.

 All Mi Band 2 features are just basics of all activity trackers. According to Engadget, Mi Band 2 has an ADI accelerometer and is waterproof, another feature that will probably boost its sales.

The wearable's 0.42-inch OLED display is coupled with a thin anodized button. Due to the additional display feature, the battery life of Mi Band 2 is largely lower.

 Originally, the Xiaomi has been targeting a battery life of thirty days but now for the Mi Band 2, it is reduced to around twenty days or even less. Despite its few down turns, Mi Band 2 is largely expected to surpass the company's traditional expectations and even to the broader extend its predecessors.

Though it is not clear whether it will be available in Xiaomi's international stores in future, the Mi Band 2 is expected to hit the market in China on June 7. The device will be available in black, blue, green, and orange color variants.

Watch the sneak peek below for details on the Mi Band 2.

TagsXiaomi, Mi Band 2, Mi Band, mi band pulse, OLED display