Xiaomi teasing new products for March 31. Smartwatch incoming?

Xiaomi is looking to continue its hot streak with a new product announcement scheduled for March 31.

The fast growing Chinese company has recently been in the news for an interesting collaboration with Microsoft, the release of new products in India, and the launch of a new Mi TV set. But Hugo Barra and company are not stopping anytime soon. To celebrate the company’s fifth anniversary, Xiaomi is teasing some “big surprises” coming on March 31, when CEO Lei Jun “will be having a conversation with some invited domestic tech media and launching new Mi product(s).”

From the sound of it, it looks that Xiaomi could be preparing to unveil one or more mid-range phones, with the Redmi Note 2 a likely candidate. In addition to the new Note, a device codenamed Ferrari has been recently spotted in benchmark databases with mid-range specifications and a 4.9-inch Full HD screen. With that said, we have no real clue that this device is coming next week.

Xiaomi may also be launching a new tablet, following the 7.9-inch Mi Pad introduced last May. Even more likely, Xiaomi could be extending in yet another category with new wearables. Talk out of China points to a circular smartwatch with health functions, as well as running sensors developed with local sporting goods company Li-Ning.

Regardless what will come out of Xiaomi’s March 31 press event, the company will probably celebrate its anniversary with some nice discounts and flash sales. Stay tuned for next Tuesday.