Xiaomi continues to undercut its competitors with compelling new products, today launching the Yi Action Camera, a GoPro competitor that will retail in China for just 399 yuan (around 64 USD).

The Yi Action Camera features a 16-megapixel Sony Exmor R sensor capable of 1080p video at 60 frames per second, paired with an f/2.8 lens with a 155-degree field of view. It can capture full resolution stills at seven shots per second, or slow motion video at either 720p (120fps) or 480p (240fps).

Other features of the action camera make it suitable for shooting wide-angle video on the go. It's paired with Bluetooth for remote connectivity and Wi-Fi for easy transfer of photos, as well as a waterproof shell rated for submersion up to 40m.

Specifications wise, the Yi Action Camera is most similar to GoPro's Hero3+ Silver, which captures 1080p60 video on a 10-megapixel sensor. However, GoPro's option retails for around $300, making the Xiaomi equivalent a seemingly excellent value proposition.

Unfortunately Xiaomi are only planning on selling the Yi Action Camera in China, so it's unlikely you'll see it on store shelves in the United States up against the GoPro. But it does go to show that once again, Xiaomi is capable of producing a similar product at a fraction of the price of its competitors.