Watch out GoPro Hero, your competition is about to heat up big time thanks to Xiaomi! The Yi Action Camera has now been announced, and as typical of Xiaomi products, packs an ultra aggressive price tag of just 399 CNY, or about $64. For those keeping track, that’s about half the price of the GoPro.

A low price tag doesn’t automatically make the Yi Action Camera worthy of your attention, but the fact that it beats out the GoPro Hero (on paper at least) just might. The GoPro Hero is capable of 1080p footage at 30 frames per second or 720p at 60 frames, but the Yi ups the ante by delivering a 16MP Sony Exmor R that can deliver 1080p at 60 frames. There’s also 64GB of storage built in, considerably more than GoPro’s offering. The Yi is capable of the same 40m (130 feet) underwater use as its more expensive rival, though it has the bonus of being a little lighter at 72 grams.

One area that GoPro has the Yi beat is in the fact that the Hero comes with mount and a housing, while the Yi sells all these accessories, and more, separately. That said, Xiaomi accessories are pretty cheap and so it’s still likely that adding some of these accessories will still translate to a more affordable experience than GoPro delivers.

At least for the moment, the Yi is only being aimed at the Chinese market, but with the e-commerce site coming to the United States later this year, there’s at least a chance that the Yi could officially make its way overseas.

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