At the moment, the Mi Band is available only in China, but Xiaomi will release it in other markets (just like it did with its smartphones). The wearable device costs only $12.8 (79 CNY), and yet it has most of the features that more expensive products are offering, including sleep monitoring, accelerometer, and a battery that can last up to 30 days. The Mi Band can be connected to your phone via Bluetooth, it’s water-resistant, and can act as an alarm clock.
Xiaomi says that the highest number of Mi Bands it shipped in a single day was 100,000. Reportedly, the bands sold until now have already counted more than 80 billion steps - so people are definitely using them.
All in all, it seems that Xiaomi is on track to becoming an important player in the wearable industry, besides being one of the world's top smartphone vendors.
source: MIUI forum (one of Xiaomi’s official forums)