With a such a list of specifications, including a 5.15-inch 1080p, ultra-bright IPS panel with 16-LED backlight and a beautiful design with, 3D ceramic body on the Pro version, metal frame, curved glass back similar to the Mi Note, and Qualcomm's Snapdragon 820 SoC, working at different clocks depending on the version and featuring Adreno 530 GPU as well as 3GB or 4GB of RAM, it is obvious that Xiaomi can easily go head to head with competing flagship smartphones like the Galaxy S7 and LG G5.

The precise dimensions of the Xiaomi mi 5 are set at 69.20 x 144.55 x 7.25mm and it weighs 129g. Just below the screen, which practically has no bezels, is the physical home button with integrated fingerprint reader. The Xiaomi Mi 5 will be available in black, white and gold color options.

As noted, there will be a couple of different versions of the Xiaomi Mi 5 so you'll get regular models with 32GB or 64GB of internal storage, 3GB of LPDDR4 RAM and the Pro version with 128GB of storage, 4GB of LPDDR4 RAM. According to the list, the 64GB and 128GB versions will also have a slightly higher 2.15GHz clocked Snapdragon 820 SoC while the base 32GB version will come with a lower 1.8GHz clock. It also appears that the Pro version is the only one getting the 3D ceramic body, while standard version will stick to curved and metal body.

Xiaomi has ditched the eMMC for storage so Xiaomi Mi 5 comes with UFS 2.0 flash memory, which should offer an increase of over 80 percent. It also comes with a 3000mAh battery with support for Qualcomm Charge 3.0 and features USB Type-C port at the bottom.

Camera modules also got updated so the Xiaomi Mi 5 comes with a 16-megapixel main camera with Sony IMX 298 sensor, f/2.0 apperture and 4-axis optical image stabilization (OIS), which is yet another novelty. More importantly, Xiaomi managed to squeeze the camera module inside the body so there is no big buldge at the back. The front camera is still a 4-megapixel UltraPixel camera seen on the Mi Note and should be enough for selfies.

The connectivity side got updated as well, and in addition to the USB Type-C port at the bottom, it also got 4G+ and 4G Advanced Cat.12 LTE with speeds of up to 600Mbps, VoLTE and better NFC. It also comes with 802.11ac dual-band WiFi, Bluetooth 4.2 and a standard set of sensors.

As expected, the Xiaomi Mi 5 runs on Xiaomi's MIUI 7 based on Android 6.0 Marshmallow and will be the first to Xiaomi smartphone to ship with it.

According to Xiaomi, the Mi 5 should go on sale on March 1st in China, followed by other markets in the near future. The bad side of things is that it appears it won't be officially available in Europe or the USA anytime soon. The price, according to a couple of first reports should be set at around US $300 for the 32GB and US $350 for the 64GB version while the 128GB Pro version should sell for US $410.