Xiaomi, the newly-emerged big player in the tech world, has launched the second of its Redmi lineup, the Redmi 2. The China-based company made it big with the smash hit that is Redmi 1S. Now, another low-cost phone is hoped to stay in its place, cooped up next to Apple and Samsung in the tech field. 

Most of the Redmi's specs were left untouched. The Redmi 2 features a 4.7-inch display, which renders 1280 x 720 display and a 312 ppi pixel density. This new handset, though, is now powered up by a much more strapping processor, a 64-bit quad-core Snapdragon 410 clocked at 1.2 GHz. The phone is also made 4G capable, which will seal the deal for many of the company's fanatics. It has been saddled up with an 8-megapixel camera that allows users to capture videos at 1080p. There is a 2-megapixel shooter at the front as well. Lastly, the package includes a 2200 mAh Samsung Lithium polymer battery. 

The Redmi 2 is expected to be a hit in China as it goes on sale for an affordable retail price of $112. IB Times believes that it will be a bestseller in India as well. The country was first captivated by Xiaomi in May 2014 with the Redmi 1S, which was sold out at a crazily-fast pace (8 minutes to be exact) after it was made available for pre-order. It has also brought its Redmi Note phablet to the country with only a $158 price tag. 

By and large, Xiaomi has sold more than 60 million units last year. It is expected to swell up manifold times, now that it has become a $45 billion-firm. The company has grown unstoppably since its launch in 2010 and it may very well be venturing outside its domestic shores to take over a bigger chunk of the market in the near future.

Redmi 2 will be released on Jan. 9.