More and more companies are showing interest in releasing their own Apple Watch competitor. Now, a Chinese tech giant named Xiaomi is the one taking on the Cupertino tech giant with its own smartwatch – but one that looks strikingly similar to the Apple Watch.

A post in Chinese social media site Weibo (via iPhoneHacks) revealed Xiaomi's new smartwatch, the aptly named Mi Watch. While the Mi Watch looks reminiscent of its Apple-branded competition, it actually isn't a blatant ripoff. It does, however, have a digital crown that's more similar to the one found in Cupertino's offering in both look and placement.

Xiaomi isn't a newcomer in the smart wearables arena. It previously released smartwatches under the startup company known as Huami, maker of the Amazfit line of smartwatches and activity trackers. Xiaomi also released the Mi Band, a series of fitness bands designed for budget-conscious consumers.

That said, the Mi Watch will be the first Xiaomi smartwatchto run on Wear OS. It will be powered by the Snapdragon Wear 3100 platform made by Qualcomm. It will feature Wi-Fi connectivity, GPS, NFC functions, and will have support for eSIM. This means that users will be able to make and take calls using the wearable.

Xiaomi's new entry into the smartwatch market should shake things up for Apple. The Chinese company's wearable might look similar to the Apple Watch, but it might have some nifty features and could be sold for a lower price. Xiaomi, after all, is known for its impressive smartphones that won't break the bank.

Apple might also find itself challenged by more competitors in the long run. Google is also expected to release a Pixel smartwatch once it succeeds in acquiring the popular wearables company, Fitbit.

Along with a monster

Xiaomi is expected to reveal the new smartwatch next month along with the world's first smartphone to feature a 108MP camera. This smartphone uses an “ultra-clear” Samsung ISOCELL camera sensor capable of taking photos with a 12,032 x 9,024 resolution size.

The 108MP camera on this smartphone is bigger than all other smartphone cameras today. It's a lot bigger than the two 12MP and one 16MP lenses on the Samsung Galaxy Note 10+, bigger than the four-camera setup found on the Huawei Mate 30 Pro, and is still way bigger than the acclaimed triple-camera setup found on the iPhone 11 Pro and iPhone 11 Pro Max.

Xiaomi Logo
The Xiaomi logo is seen in a Xiaomi shop in Beijing on November 7, 2018. Getty Images/Nicolas Asfouri