Xiaomi's current flagship, the Mi 4, is nearing its 12-month timeframe out on the shelves. With the China-based company's convention of releasing a new smartphone a year or so after its current lineup, fans are already expecting Xiaomi to come out with its next-in-line smartphone, the Mi 5. With the expectations come rumors and speculations about how the upcoming flagship will look and feel like. 

Rumor has it that the upcoming product will indeed be a step up from its predecessor. According to the alleged leaks which are currently making their rounds online, the Mi 5 will come with a 5.2-inch QHD LCD display and will be protected by a new Gorilla Glass 4 surface. The screen will also feature 2.5D edges.

Under the hood, the Mi 5 will reportedly sport a Snapdragon 810 chipset, and although there is no detail on how much RAM the processor will be partnered with, fans expect the upcoming smartphone to carry at least 3 GB to fully maximize its performance and compete with other recently-launched devices. 

A much improved shooter is also one of the featured characteristics of the upcoming Mi 5. It is said that Xiaomi's upcoming flagship will sport a powerful 16 MP main shooter, with all the trimmings of a great camera such as image stabilization and flash features. Meanwhile, the front of the device will get a selfie-focused 13 MP camera. 

Other rumored specs of the Mi 5 include an average 3000 mAh battery and a native Android 5.1 Lollipop platform. It is still unknown, though, if Xiaomi will be integrating its new Mi UI 7 interface with the new phone.

The Mi 5 doesn't have an announced release date yet, although fans expect Xiaomi's upcoming product to come out before the year ends.