Chinese electronic company, Xiaomi, has unveiled its latest new product, the 360-degree camera Mi Panoramic. The new device is now available in China for the price of ¥1,699 - or around US$250. So far, the camera is only currently available in the region, no word yet about its international shipping.

The Xiaomi Mi Panoramic will come with two 16 megapixels fisheye lenses each sporting a 190-degree field of view using the Sony's IMX206 imaging sensor, according to Android Central. It is capable of producing 7K (6912 x 3456) photos captured by the two lenses thanks to the Ambarella A12 image signal processor. It can also capture 2456 x 1728 and 2304 x 1152 resolution videos at 30 frame rates per second and 60, respectively.

Xiaomi Mi Panoramic can also be used under extreme sport conditions, much like the popular sporting gear GoPro. The camera is equipped with a 6-axis Electronic Image Stabilisation (EIS) system that reduces the shaking effect on the finished recorded video, giving it a smooth quality, Android Authority reported.

The device will run using a 1,600mAh (Milliampere per hour) battery life under its hood and it is compatible with Quick Charge 2.0. Xiaomi Mi Panoramic is able to stay light up and filming for 3.5K resolution (3200 x 1800) for around 75 minutes. The camera is also sporting an IP67-rating, which means it is both dust and water-resistant.

Xiaomi's Mi Panoramic has the functionality to connect to the internet using its built-in WiFi connectivity. It supports MicroSD card for up to 128 GB and has two different capture modes like time-lapse and loop recording. Lastly, device is is measured at 78 x 67.4 x 24 mm and weights 108g.

The Xiaomi Mi Panoramic is not necessarily the company's release to compete with the popular GoPro hero. It was previously reported that the Chinese tech giant already launched its very own action camera last year under the Yi sub-brand called Yi M1.