Fresh from its Mi 5s flagship release, it is said that Xiaomi will immediately follow it up with another flagship launch elease soon. A recent teaser from Xiaomi CEO hints that the Mi Note 2 is going to debut in the near future.

According to Phone Arena, reports out of China has Xiaomi CEO Lei Jun teasing that the Xiaomi Mi Note 2 release will "come with a surprise." However, outside of the supposed teaser, no other hints are available on what the surprise will be all about. The industry follower believes that Xiaomi's "surprise" has to do with the price break for the Mi Note 2. Even with flagship killer specs, it is expected that the upcoming flagship will only have a price tag of at least $300.

A surprisingly competitive price tag for a Xiaomi flagship is certainly possible. The China-based tech maker is known to provide above-average specs for its products lineup, but keeping costs to a bare minimum. This leads to competitive price tags for Xiaomi flagships.

Meanwhile, this has been the second teaser that the Xiaomi CEO released, hinting at the imminent release of the flagship. Previously, the company executive has also announced that the Mi Note 2 is already underway to mass production, teasing an imminent release for the device. While Xiaomi has yet to come out with a specific release schedule for the flagship, it is expected that the Mi Note 2 will debut sometime this month.

As to what fans can expect for the Mi Note 2, purported specs include a Snapdragon 821 processor paired with at least 4 GB of RAM for the base model. A step-up version with 6 GB of RAM is also rumored. Supposed leaks also point to a Pro version, with a massive 8-GB RAM and up to 256 GB of native storage. Speculations also list a 5.7-inch full HD display, with a dual-edge feature.