This is a pretty interesting report, because it's one of those few stories that comes out that started as an April Fool's joke, but actually turns out to have some truth to it. On April Fool's Day, a few reports went around saying that Baidu was working on a Google Glass competitor called Baidu Eye. That's a pretty solid prank, because it sounds reasonable enough that people could believe it.
The thing is that the story was apparently based on a “kernel of truth” according to Baidu spokesperson Kaiser Kuo. Kuo says that so far it has only been through "a small internal test", and it's unclear if the product will ever make it to market. Supposedly Baidu Eye is designed a lot like Google Glass with a head-mounted camera and an ocular interface built with LED. The idea is to focus on "visual search on images and voice command".
The original April Fool's reports from Sina Tech, a Chinese news source, said that the product has been in development for "several years", and even named hardware partners like Qualcomm, but Kuo says that none of that is true.