Xiaomi's incredibly cheap Mi Band and Mi Band Pulse have allowed the Chinese smartphone maker to find success in the wearable market in China. At $15 and $16 respectively, the Mi Bands are one of the most affordable wearable devices to come out of a respected technology company. And now thanks to Xiaomi founder and CEO Lei Jun, we've gotten a glimpse of the Mi Band 2, the next generation of the activity tracker.

Jun showed off Xiaomi's upcoming device during a wearables conference in China over the weekend, and it looks like the Mi Band 2 will be a major step up from its predecessors. With both an LCD display and a physical button, the Mi Band 2 should allow users to view their activity levels and heart rate. But the big question is will the Mi Band 2 be able to maintain the cheap price tag of the first-generation device, or is Xiaomi changing its approach in the wearable market?

We should find out soon, as the tracker is expected to be unveiled alongside the Xiaomi Mi Max and the latest version of MIUI on May 10th.