Previously, Xiaomi has stated that it will introduce a "surprise" with the Mi Note 2. It turns out that alongside the flagship launch is another smartphone that is part of the company's concept series.

In the announcement, Xiaomi has revealed the Mi MIX, the company's first iteration in what it called the "concept phone" series. However, instead of it being a prototype, the Mi MIX is actually undergoing mass production, and it will be available starting Nov. 4.

The launch confirms that the Mi MIX shares some specs with the newly-launched Mi Note 2, such as a Snapdragon 821 processor, and also base and premium model versions. The Base variant features 4 GB of RAM and 128 GB of native storage, while the top-tier version has 6 GB of RAM and 56 GB of storage. The step-up version even has 18k gold inlays on its rims around the camera and fingerprint sensor.

However, massive improvements can already be seen on the Mi MIX, even at first glance. The new concept phone is a true phablet, featuring a 6.4-inch screen. Interestingly, the new iteration sports an edgeless display feature. This means that many of the bezels on the front panel have been taken away, with the screen itself occupying at least 90 percent of the front panel. The front camera, although having a standard 5-MP setup, is at least half as big as a traditional shooter, leading to more room for the display and soft keys.

For its body, Xiaomi has featured an all-ceramic, unibody design for the new handset. Other specs include a 16-MP main camera, 4,400 mAh battery, HD audio, and curved edges on both front and back panels.

Meanwhile, although the newest Xiaomi 'surprise' is not scheduled to appear until next month, hands-on reviews showing the Mi MIX have already made their way online. The new flagship is said to come out with at least a 3,999-Yuan price tag — at least $590.