The Xiaomi Watch also promises extra-long battery life and it even comes with a linear motor for haptic feedback.
The teaser image, which the company shared on Chinese social media platform Weibo (via DroidShout), shows a chrome-tinted rectangular watch that you'd be hard-pressed to argue wasn't inspired by the Cupertino giant's own offering.
Xiaomi isn't entirely new to the wearables space, considering it has used its sibling company Amazfit to produce smartwatches, but it may soon introduce a new piece of smart wristwear under the main "Xiaomi" brand name.
Per IDC, Xiaomi now occupies the second position in the global wearable market with a 12.6% share, with most of its growth fueled by fitness trackers such as its Mi Band 3. Jun in his post stated that the upcoming smartwatch will be offered in Black and Silver colour options.
Unlike the render leaked by Lei Jun which showed just the lockscreen, this new render shows two new watch faces. The wallpapers also look similar to what Apple uses for its Watch series. The Mi Watch will also support NFC as well as Global Positioning System.
The New York Times once described Xiaomi in a headline as having assembled a consumer electronics "empire built by aping Apple".
Along with the Mi Watch, Xiaomi is expected to launch a new Mi TV and Mi CC9 Pro smartphone at its November 5 event.
That teaser image also confirms the company will be introducing its next device on November 5 in China, but we don't now know if it'll be available in the US, UK or Australia.