Earlier this week, Xiaomi president Lei Jun stated that the Chinese smartphone firm will be launching its flagship handset on Jan. 15. The company has already started their ticket sales for the launch, which carries a price tag of $16 or 1000 ducats. However, there was one minute detail that the company purposely left out: it has not yet confirmed whether it will be unveiling the Xiaomi Mi 5 or the Mi 4S.

No details have been leaked concerning the upcoming device other than the fact that the processor will be supporting 64-bit architecture. The company's representative stated the device will be "thinner than the wings of a cicada," implying that the smartphone possesses a very thin form factor.

The company is also rumored to be working on its flagship slate, the Mi Pad 2, which will succeed its original Mi Pad tablet. Unlike the Mi Pad, which is equipped with NVIDIA's Tegra K1 chipset, it has been speculated that the Mi Pad 2 will be sporting Intel's chipset, which will be running a 64-bit capable processor.

Meanwhile, Xiaomi also announced the successor of its Redmi smartphone, the Redmi 2. The Redmi 2 has a price tag of $112 and boasts improved hardware specifications, including a 4G LTE modem for blazing fast wireless connectivity speeds. 

At the start of the New Year, the rising Chinese startup company was able to secure itself a US$1.1 billion investment, which has spiked the company's total valuation to $45 billion. In comparison, the valuation amount is three times higher than Lenovo's market cap, which also happens to be the largest PC maker and fourth largest smartphone maker in the world, trailing behind Xiaomi by a very thin margin.