How to Factory Reset the Xiaomi Watch 2

This is how you perform a factory reset of the Xiaomi Watch 2. Please bear in mind that all personal data stored on the watch will be deleted upon following these steps.
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[@marcg1043]

Wrong info . This is not a full reset! For example previous WiFi connections are still stored after your process.

[@GetThereFaster]

Hi! Thanks for the input. I however was not able to reproduce the saved networks issue when testing now. Tried having both phone and watch connected to the same Wi-Fi network. Factory reseted the watch. Had the phone forget the network and connect to another Wi-Fi. Upon setting up the watch again I then went into the Wi-Fi settings and under “Saved networks” was only the new Wi-Fi that automatically gets synced with the watch while setting it up. Worth noticing though is that the watch, for whatever reason, always displays two instances of the same network under “Saved networks”.
Did you perhaps do something different to get other networks than the one the phone setting up the watch is using to appear under “Saved networks” after the reset? Because that network will always be there since it, as far as I can tell, automatically syncs to the watch during setup. And for some odd reason there are always two instances of the same network under “Saved networks”. // Chris

[@marcg1043]

@GetThereFaster I have about 6 previous WiFi networks which always show under saved networks. Even when I deinstall the app on the phone. The factory reset does not erase them for me.

[@GetThereFaster]

@@marcg1043 So odd! I tried adding four different Wi-Fi-networks on the watch (my two normal ones and two mobile shared ones), made sure they were saved under "Saved networks", then I resetted the watch and set it up again whereupon all the networks were gone (apart from the one that was shared automatically from the phone). Not sure what could be going on to be honest, but sounds like something software-related. You don´t have any pending updates or something? Thinking if its a known bug that has been fixed in later OS-versions. // Chris