Xiaomi's budget smartwatch goes on sale in China for CNY 799 (~$115)

Update: An earlier version of this article claimed the Mi Watch Color ran Google’s Wear OS, though it does not. We regret the error and have corrected the article below.

Original article: Chinese tech company Xiaomi just announced the release of the Xiaomi Mi Watch Color, the company’s latest foray into wearables. Like Xiaomi’s recently released Mi Watch, the Mi Watch Color is cheap, but it rocks an even more budget-friendly price tag.

Customers can pick up this sleek-looking smartwatch for only CNY 799 (~$115). The watch chassis itself comes in two colors — black and silver — with a third gold option to follow. There are also plenty of different colored silicone and leather wristbands to suit each users’ needs.

Related: The best Wear OS watches

Though it doesn’t appear to come with any built-in LTE connectivity, the watch boasts GPS, Bluetooth 5.0, NFC, a heart-rate monitor, and sleep tracking functionality.

The Mi Watch Color also packs an accelerometer, compass, barometer, gyroscope, and ambient light sensor. The device is water-resistant up to 5 ATM, and it comes with a 420mAh battery that touts an impressive 14-day battery life.

As of right now, the device is only available in China. We don’t know if Xiaomi plans to release the Mi Watch Color in other markets or not, but we sure hope it does. This smartwatch looks like a steal for the price.