Xiaomi's Yi camera, alongside its companion app. Courtesy/Xiaomi

Look out, GoPro Hero. Chinese smartphone manufacturer Xiaomi launched a similar camera in China Monday -- a small, portable picture-taking device aimed at users with active lifestyles.

In late February, rumors the Chinese company was working on a GoPro rival surfaced when it launched a series of ads featuring a matchbox with several items -- like snorkeling gear -- inside.

"Win a mysterious new Rapid Responder: You always wanted to go there, where no one visited it? You want to change the angle, record beautiful moments? You have seen breathtaking beauty, want to share with a friend? You have to challenge the limits of courage? At 10 on March 2, new 'lightweight' (will be) announced," the message said, translated from Mandarin by Google.

The Yi Action Camera is currently only available in China, but its low price point (399 CNY, or $64) is only one of the features that make the camera so enticing.

Xiaomi, which is primarily known as a smart phone company, clearly wants to expand beyond the mobile borders with the camera, which features a 16-megapixel camera that’s able to shoot 1080p video at 60 frames per second. The Yi also has a larger battery and is lighter than the GoPro Hero.

The GoPro Hero, which retails for $130, can only shoot 1080p video at 30 frames per second. The Yi also uses a high-quality image sensor from Sony and comes with 64GB of built-in storage. Yes, that’s double the amount of storage the GoPro Hero offers.

Both cameras can be used at up to 40 meters underwater and come with a smartphone app that can control the device, and share and edit videos. However, the GoPro Hero comes equipped with a mount and housing, while Yi buyers must purchase those parts separately.