Samsung’s already launched quite a few wearables, but none of its offerings in this space have been especially affordable. And while perhaps that’s pretty much a given for a smartwatch, when it comes to activity trackers such as the Gear Fit there’s clearly room for more affordable options.

And that’s exactly what Samsung is working on, according to a new rumor on the matter. The Korean company’s upcoming affordable fitness tracker bears the model number SM-R150, and it’s been codenamed Triathlon internally.

Apparently the R150 might turn out to be a competitor to Xiaomi’s recently unveiled Mi Band 1S, at least when it comes to specs – save for the possible omission of the heart rate monitor. It’s still unclear how much Samsung’s new wearable will cost, though we doubt it will match the Mi Band’s $15…

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