Xiaomi Mi 5 is long overdue but it is nonetheless on its way. The Chinese tech firm has scheduled an event on Oct. 19, but it did not provide details as to what the tech world will be in for during this special occasion.

The scheduled event, however, is believed to center on the highly anticipated reveal of the aforesaid flagship, whose predecessor was released in July last year. Many assume that the Xiaomi smartphone is round the corner but no one saw coming an earlier launch such as this.

This could mean that either Xiaomi Mi 5 won't show up on Oct. 19 or the flagship will really be the star of the show. The device has always been rumored to be launched next month or December but given that it has been months since it should have been put out, it could be here earlier than expected.

However, GSM Arena surmises that the Xiaomi Mi Pad 2, which showed up in China's 3C Certification Center last month, could be the product Xiaomi ends up showcasing in the event. This is because it was always thought to be released around Q3.

But if the event really is for the Xiaomi Mi 5, it will be very unlikely that the flagship will be seen donning the new and more powerful Qualcomm Snapdragon 820 processor. This is because the chipset won't be seen in action in devices by December.

As for the rest of the specs, Xiaomi Mi 5 is touted to boast a 5.3-inch Quad HD display and a fingerprint sensor. It reportedly houses 4 GB of RAM and comes with two storage options – 16 GB and 64 GB. To keep it alive is a 3030-mAh battery.

Users will get a 16-MP rear-facing shooter with dual LED flash and high-definition recording as well as a 6-MP front-facing shooter. It looks like it will have Android 5.1.1 Lollipop pre-installed too.