By Desiree Salas (media@latinospost.com) | First Posted: Mar 03, 2015 06:00 AM EST

If you've wondered whether there could be any other action camera that can outshoot the GoPro, it's time to start putting that speculation to rest. It appears a GoPro killer has just been born, albeit in China.

"Xiaomi unveiled its first action camera on Monday, and it beats the entry-level GoPro Hero on both price and specs," Time reported. "The Yi Camera, which will be available in only China, is on sale for 399RMB ($64), about half the price of the $130 GoPro Hero."

The price is only the first point of contention for Xiaomi's latest product. According to The Verge, the gadget "features a 16-megapixel camera capable of shooting 1080p video at 60 frames per second."

This is notably better than GoPro Hero's 1080p footage at 30 fps.

"Unexpectedly for such a cheap device, the Yi also uses a high-quality image sensor from Sony (an Exmor R CMOS) and offers 64GB of built-in storage - twice what's available on the Hero," the tech news source went on to reveal.

Additionally, the Yi can also be used up to 40 meters underwater, which is also the case with GoPro, and "comes with a smartphone app that can remotely control the camera as well as edit and share newly-captured footage."

"To be fair, unlike the Hero, it doesn't come with a housing, mounts or the impeccable rep," Engadget said. "But Xiaomi is offering a bunch of extra accessories, including a helmet mount and, yes, a cat harness."

Of course, how dare Xiaomi forget China's love for cats?

Closest rival GoPro still has breathing room as the YiCamera is only sold in China right now. However, once this astoundingly affordable gadget gets to US shores, it may seriously give GoPro a run for its money.

Currently, Xiaomi is gearing to launch an e-commerce site, Mi.com, in the US this year. Although it will not be peddling its smartphones and GoPro killer of an action camera on that site yet, it's still one move that American competitors should look out and prepare for.

"The launch of the Yi Action Camera has troubled GoPro investors, with shares of company tumbling almost 5 percent on Monday," CNBC reported.

"If Xiaomi does launch a camera, [it] has a really good shot at taking leading share, taking big share against GoPro," said Andrew Uerkwitz, Oppenheimer's managing director. "One thing that we think Xiaomi has going for it is that it's got a really great user base, it's got a really good following in China and other Asian countries."

However, some are not as worried about Xiaomi eating up GoPro's market share. Frost & Sullivan's Marc Einstein said that he would be more "concerned" if it was Samsung or Apple launching an action camera.

"Like with Apple, the people that buy Xiaomi smartphones are people that weren't able to buy Apple devices. This will be the same case with Xiaomi's action camera," he explained.

Would you get yourself a YiCamera if it was available in your area? Let us know what you think.

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