Xiaomi, the Chinese smartphone maker, is entering the laptop business. The move would challenge companies including Apple (AAPL), Lenovo (LNVGY), and Hewlett Packard (HPQ). Xiaomi, which is often referred to as ‘the Apple of China’ plans to release its notebook as early as the first quarter of next year, according to a report by Bloomberg. The company's newest device is expected to compete with some of the premium laptops currently on the market including Apple's MacBook Air and Lenovo's ThinkPad. Xiaomi has already held talks with Samsung to supply memory chips, and potentially for displays. The Chinese company has already had success selling stylish smartphones similar to the iPhone for less outside of the U.S. As Xiaomi enters the PC world, industry leaders will likely face more cost pressure in the laptop business. The new laptop is rumored to be a high-end 15 inch notebook similar to the MacBook Air, but at just half the price.