Chinese smartphone maker Xiaomi, which is considered a major player when it comes to low-cost high-end devices, is considering a foray into the world wearable gadgets.

According to a video posted by Xiaomi on its official Facebook page, the China-based consumer electronics manufacturer is thinking about making smartwatch-like wearables

In the video, Xiaomi's Vice President of International, Hugo Barra says that the company doesn't have solid plans at this point, but will make a decision in the next few months.

Barra said Xiaomi is open to taking inputs from the user community regarding the release of smartwatches and the features that they would like to see.

Xiaomi wades into the smartwatch battle arena

At a time when major technology brands across the world (Samsung, Microsoft, LG, Sony, Apple, etc) are engrossed in bringing out wearables, Xiaomi's smartwatch could herald a new era of affordable smartwatches.

The company has quickly built a reputation for making low-cost but high-quality smartphones. Applying this ethos to smartphones and targeting a sub-$100 (£64) wearable running Android Wear would be a keen strategy for the Chinese upstart..

Currently, Taiwan-based Asus has launched a sub $200 priced Zenwatch for the US market. Asus is also rumoured to have a sub-$100 smartwatch in the works.

With Xiaomi making known its intentions to develop and release smartwatches, it remains to be seen if these devices catapult to instant fame as did the company's Redmi range of smartphones.

Do share your thoughts with us, regarding the functionality you would like to see within Xiaomi's likely 'affordable' smartwatches.