Fresh information about the upcoming Xiaomi Mi5 has surfaced online, providing details about the device's specifications, release date and pricing. Xiaomi is currently rumored to be working to high-end flagships, the Xiaomi Mi5 and the Xiaomi Mi5 Plus, while both the devices are expected to be released in the last quarter of 2015.

According Xiaomi Today,  the Xiaomi Mi5 will come with a 5.3 inches display, sporting a Quad HD screen with a resolution of 2560 x 1440 pixels. The display will be able to produce a high pixel count of 554 ppi.

The device is expected to be powered by the next generation Snapdragon 820 chipset, which includes an octa-core processor and Adreno 530 graphics. The device could also feature 4 GB of RAM, along with 16 GB and 64 GB internal storage options. The device will not support expandable storage.

The main camera of the Xiaomi Mi5 will be of 16-megapixel, accompanied by dual LED flash. The rear will house a fingerprint scanner. For hardware connectivity, the device will be enabled with USB Type-C slot.

The smartphone is likely to run on Android 5.1.1 Lollipop, which will be overlaid with the newly launched MIUI 7 proprietary software from Xiaomi. The phone will be equipped with a battery of 3,030 mAh battery.

The Xiaomi Mi5 is expected be a very slim smartphone with a thickness of only 5.3 mm. The handset will be available with a price tag of less than $400.

Meanwhile, the Xiaomi Mi5 with Snapdragon 820 chipset was recently benchmarked on AnTuTu, where it managed to record an impressive score of 73,075, another Xiaomi Today report stated.

Xiaomi is speculated to launch a larger Xiaomi Mi5 Plus flagship that will be fitted with a 5.7 inches screen. Rumors have it that it will feature a rear camera of 24-megapixel and a front-facing camera of 13-megapixel.