Not only is Xiaomi one of the world's biggest smartphone manufacturers, it's also the second largest wearables vendor behind Fitbit, mostly thanks to the success of its devices in the Chinese market.

Now, Xaiomi is adding a third fitness tracker to its range of products. Following the release of the successful Mi Band and Mi Band Pulse comes the all-new Mi Band 2, which cost RMB 149, or just under $23.

The new tracker is slightly more expensive than its predecessors, but this one has a 0.42-inch OLED display made from scratch-resistant glass that's said to reduce smudges and fingerprints.

The Mi Band 2 tracks basic movements, has an improved optical heart rate sensor, measures sleep and calories, and comes with an ADI accelerometer. It's also IP67 waterproof, uses Bluetooth 4.0, and will vibrate to remind you to move whenever you're inactive for too long.

With the previous bands, users had to open the accompanying app on their smartphones and pair it with the wearable whenever they wanted to see their progress. While the Mi Band 2's display does make checking your stats a lot easier, it also means you'll now get around 20 days usage from the 70mAh battery, as opposed to the 30 days offered by the previous bands.

Finally, anyone with a Xiaomi smartphone can use the Mi Band 2's unique ID to unlock it instantly. While this sounds like it could be a bit of safety issue, the passcode will be reactivated if the phone moves out of the band's Bluetooth range

Xiaomi says the Mi Band 2 will be available in black, blue, green, and orange. It goes on sale in China on June 7.