Xiaomi has launched a new flagship smartphone and low-cost companion wristband, as the fast-growing Chinese electronics firm looks to expand into the wearable technology sector. #MiBand - More colours and features! At an amazing price of RMB$79 http://t.co/3pXZL7D9li pic.twitter.com/oVq0WblVsX— Xiaomi (@xiaomi) July 22, 2014 The firm, often referred to as ‘China’s Apple’, is marketing the [...]

Xiaomi has launched a new flagship smartphone and low-cost companion wristband, as the fast-growing Chinese electronics firm looks to expand into the wearable technology sector.


The firm, often referred to as ‘China’s Apple’, is marketing the steel handset's 5in (12.7cm) screen as offering 17% greater resolution than Apple's higher priced iPhone 5S.
The announcement came from Xiaomi CEO Lei Jun, who styles himself after Steve Jobs, doing Apple-style product launches while dressed in blue jeans and black top.
He took it one stage further , using Job’s famous ‘one more thing’ line to introduce the MiBand.
The wristband acts as an ID authenticator, allowing the phone to be unlocked without a password.
The waterproof Mi Band measures activity levels and sleep patterns, has a smart sleep-cycle alarm and claims to have a 30-day battery-life.
Amazingly, it will be going on sale in China and Singapore for 79 yuan ($13; £7.50) - less than a tenth of cost of Fitbit's rival Flex bracelet in China.
The firm has sold 57.4 million phones since going into the smartphone business three years ago.
In addition, the firm disclosed that its first batch of mobiles to go on sale in India had sold out in 38 minutes earlier in the day. However, it did not say how many were bought.


Earlier this month, Samsung Electronics forecast a drop in profits due, in part, to "increased competition" from Xiaomi and other rivals in China. The South Korean firm cut the pay of its top executives as a result.
The private-owned company was formed in 2010, and initially only offered its MIUI user interface as add-on software for Android devices.
In 2013, it caused a further stir when it announced that Hugo Barra - one of Google's top Android executives - was leaving the search giant to become Xiaomi's global vice president.
It is also significantly cheaper, costing 1,999 yuan ($322; £189) for the version with 16GB of storage and 2,499 yuan ($402; £235) for the 64GB edition.
The wristband is also keenly priced at 79 yuan ($13; £7.50) - less than a tenth of cost of Fitbit's rival Flex bracelet in China.
In addition to unlocking the phone via Bluetooth, the water resistant Mi Band can track activity and sleep, and act as an alarm clock, but lacks a screen. Xiaomi says it lasts up to 30 days between charges.