If the rapid ascent of the wearables as a hot new category is, after the tepid reception to the Apple Watch, poised to falter, Xiaomi's uninspiring new Amazfit may be the final death knell for the smartwatch.

Unveiled by Xiaomi-backed company Huami during an event in China this week, the device features GPS, Wi-Fi and Bluetooth connectivity, and packs a heart rate monitor for fitness tracking.

Very little information is available regarding the device on either company's official website but, according to GSM Arena, the device will offer up to 35 hours of battery life, is waterproof and works with the MiFitt app for the iOS and Android. According to the report, if you switch the device to pedometer mode you can get about 11 days of battery life from it.

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A photo posted by samiluo (@samiluo) on Aug 30, 2016 at 8:52am PDT

As a late entry into the smartwatch wars, currently dominated by the Apple Watch, the device is fairly lackluster. However, the wearable does give Xiaomi a slightly more competitive entry in the wearable space compared to its previous offerings.

No announcement has been made regarding its availability in the U.S., but the Amazfit is already available for pre-order sales on Alibaba's TMall.com site. And that's what may be the Amazfit's saving grace. Priced at about $120, this is one of the most affordable yet feature-rich smartwatches we've ever seen.