Xiaomi is best known for its smartphones which have helped propel the company to become a major player in the Chinese smartphone market, but the company also makes other products including but not limited to wearable devices and an action camera. Today the company announced a rather interesting product that’s commonly known as a hoverboard, even though it’s not technically a board and it doesn’t really hover.

Xiaomi CEO Lei Jun announced the Ninebot Mini at an event in Beijing today, the company has made this self-balancing scooter in collaboration with Ninebot, a Chinese startup that was funded by Xiaomi.

The Ninebot Mini isn’t like most Segways, it’s not bulky and doesn’t have a handlebar, it’s actually quite smaller and costs just $315. That’s about as much as you pay for a Xiaomi smartphone.

This self-balancing scooter can go up to speeds of 16km/h and it weighs around 12.8 kg, XIaomi says that it can go 22km on a single charge. A companion app will also be released which will allow users to control the Ninebot Mini remotely, view how much charge it has left and also view the speedometer.

Xiaomi has listed the Ninebot Mini on its website, it will start selling this new product on November 3rd, however sales will be limited to mainland China initially.

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