Xiaomi is one of China's most successful companies, they are typically better known for their mobile products, although the company does offer a wide range of electronic products. Their smartphones and tablets are known for offering decent specs and certainly for their asking price. This company has an event scheduled for November 24 and it is expected they will unveil a couple of devices, as they have been previously leaked. The Redmi Note 2 Pro is one of the devices that it expected to become official on that day, as it has already been certified and it is rumored to be the first device of this affordable series to sport a metallic construction.
A smartwatch was rumored to launch in November, and according to a leakster's post on China's social network Weibo, this will indeed happen. The source didn't give any details other than the smartwatch is about to be released, so we can only speculate about a few aspects of the device. This wouldn't be the company's first approach into the wearable market, they released a fitness tracker band called Mi Band in July and more recently they released the Mi Band 1S which also included a heart rate monitor. Both of these bands were extremely affordable, so perhaps the company would take a similar approach towards its first smartwatch by cutting costs in some areas. That doesn't necessarily mean that the smartwatch will not look good, as the company often delivers nice designs, even for their affordable devices.
It is currently not clear what software the smartwatch will be running on, Android Wear is one obvious possibility, as their mobile products run on Android. However, since the company customizes this operating system heavily, they could have created their own platform for their smartwatch. The shape of the watch is also unknown, but more companies are choosing round screens for these kind of devices, so perhaps Xiaomi will use adopt form factor. This is only a rumor for now, but we won't have to wait for too long to confirm what will happen as it is only a few days until the event