Speculations suggest that Xiaomi will be releasing a new flagship follow-up, the Mi Note 2, as well as another variant of its Mi 5.

According to WCCFTech, the upcoming Mi Note 2 is still in phablet form, with a 5.7-inch screen, the same as the original Mi Note. There are rumors that Xiaomi is thinking of having a curved edge display for the new flagship.

Reportedly, the new Mi Note will also be a full lineup, with a base model featuring a Snapdragon 820 processor and 4GB of RAM. In addition, there will reportedly be a top-tier Mi Note 2, which may come out as the Mi Note 2 Pro and will pack a Snapdragon 823 chipset with 6GB of RAM.

The industry follower notes that one of the rumored highlights of the Xiaomi Mi Note 2 will be a 256GB UFS 2.0 internal storage. This is said to be better than storage found in current flagships, which follows the eMMC standard. The UFS-type onboard storage has higher performance levels in terms of read and write speeds.

Meanwhile, Gadgets by NDTV adds that aside from supposedly launching at least three versions of the Mi Note 2, Xiaomi is looking to expand its Mi 5 lineup with another addition. Reportedly, there will also be a reveal of the new Mi 5s during the second half of the year. While the company has yet to come out with confirmation, having an "S" designation means that the new Mi 5 variant will have upgraded specs and features. Allegedly, the upcoming Mi 5s will sport 6GB of RAM, as well as a 5.15-inch full HD display. Noted changes from the current Mi 5 lineup will be an ultrasonic fingerprint sensor from Qualcomm, as well as a pressure-sensitive screen that gives the Mi 5s features much like Apple's 3D Touch.