Word on the street is that Chinese smartphone manufacturer Xiaomi will launch its flagship Android smartphone known as the Mi 5 during the CES 2015 in Las Vegas in January next year. The news came from Economic Daily News, which stated that the upcoming smartphone will be a real threat in the category. As per Kpop Starz, the "Apple of China" has distributed invitations for a Dec. 9 event called "Up in the Wind Together," which the site speculates to spell the upcoming unveiling of the powerful device.

Media outlets take the word of Industry analyst Sun Changxu, who said that the specs will receive a massive makeover. The upcoming Mi 5 is expected to house a heavy-duty 64-bit Qualcomm Snapdragon 810 octa-core processor, complete with the Adreno 430 GPU for immaculate graphics. It is also set to come with a 5.7-inch Quad HD display that renders an impressive 1440 x 2560 pixel resolution. A huge 20.7-megapixel Sony shooter is also rumored to be loaded in the Mi 5.

Last of all the rumors indicate that a fingerprint sensor will be embedded in the device in order to level up with companies that utilize the same technology — Apple, for example. However, IB Times reported that the mammoth phone in the works is Xiaomi's frontrunner to challenge the MX4 Pro, a premium handset from its rival Meizu that sports the same set of specs the Mi 5 will bring to the table soon. Kpop Starz also longs to see the alleged "razor thin side bezels" a leaked image of the smartphone sports.

For a smartphone with the abovementioned supreme specs, many would love to know that it only takes an easy-on-the-pocket shell out requirement to get hold of it. Xiaomi, which is known for the competitive pricing it attaches to its devices, is expected to sell the Mi 5 for only $326. No release date for the Mi 5 has been confirmed.