Xiaomi Mi Band 3 is a very popular fitness tracker due to its ease of use and low price. Now, Xiaomi is planning to introduce its next Mi Band – the Mi Band 4 – later this year.

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During its quarterly earning call, the company announced the latest upgrade to its Mi Band series of fitness trackers. Huami’s Chief Financial Officer David Cui didn’t give any specific date for the Mi Band 4 release, but he did affirm that a successor to the Mi Band 3 will be coming this year itself, reports xda developers.

“For Mi Band 4, it’s going to be in this year. It will be in 2019. But I’m not sure, [if] it’s going to be in March and April. But it is going to be in this year. Each generation we learn something, we always do better. And [for] Mi Band 3 — you can take a look at 2018’s volume, right. So it’s really much better as compared to previous version. So we expect Mi Band 4 will have similar trend. So once we launch Mi Band 4, we expect that product will sell well,” Mr. Cui said.

The quarter earning call also revealed that the Xiaomi Mi Band line and Amazfit products (both made by Huami) are doing exceptionally well. According to the call, Huami grew revenues by 78% in 2018, which was primarily achieved by sales of Amazfit’s smartwatches and the Mi Band 3.

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“Right now, Mi Band 3 is still hot sale — is still [selling] really, really well. The margin is not shrinking, the shipments are not shrinking. So we will work with Xiaomi to pick the right time to launch Mi Band 4 in the year,” Mr. Cui said.