While Xiaomi has just released its newest flagship, the Mi 5, the China-based tech giant is not stopping anytime soon. Rumors are saying that the company is ready to add a follow-up in its Mi Note series. It is said that the upcoming Mi Note 2 will be sporting the next-gen Snapdragon 823 processor.

According to Android Headlines, a post on Chinese social media site Weibo said that Xiaomi will be launching a Mi Note 2 soon. Interestingly, the upcoming flagship addition will be a full lineup, since the tipster also claimed that the Mi Note 2 may come in at least two variants. Reportedly, the next Mi Note 2 will have Snapdragon 820 and Snapdragon 823 versions, at least 4GB of RAM, and a 16MP Sony sensor OIS main camera.

Aside from the new processor versions, almost all of the specs for the Mi Note 2 are the same as the previous Mi Note Pro iteration. Indeed, rumors point out that the new flagship will also retain the same 5.7-inch Quad HD display as the current-gen flagship, and will also feature a 3,600 mAh battery.

Fans may be wondering if there really is a Snapdragon 823 chipset. According to speculations, tech manufacturer Qualcomm will be releasing the new SoC soon. The architecture is similar to how the Snapdragon 820 is assembled. However, the Snapdragon 823 is said to have an increase in both speed and performance as the processor will be clocked higher.

Aside from the Mi Note 2, another rumor about the Snapdrgon 823 chipset is that HTC is planning to use the processor in another flagship addition, the HTC 10 Mini.

As for its release date, Android Pit claims that the Mi Note 2 will be out anytime soon. However, Xiaomi has yet to provide details at this point, and has not yet confirmed if it plans to have a global release for the Mi Note 2.