Rumor: The Xiaomi Mi5 will only cost $320 despite its ridiculous specs

Xiaomi is taking its sweet time with announcing the highly-anticipated Mi5 smartphone, but if the rumors about the device’s price and specs are to be believed, it’ll be worth the wait. Not only is the Xiaomi Mi5 expected to come with 4GB of RAM, numerous reports have claimed that it’ll be one of the first smartphones to use the next-generation Snapdragon 820 chipset, which would make it a significant upgrade over the Mi4. What’s even more impressive is that it’ll reportedly be the same price as its predecessor, which starts at $320, despite these improvements. 

Xiaomi is expected to pack its rumored Mi5 with plenty of high-end specs, but it turns out the company may not have to raise the price as a result. A new rumor claims the upcoming smartphone will be just as budget-friendly as its predecessor. According to Chinese tipster Leaksfly, the Mi5 will cost the same as last year’s Mi4, which started at just $320. That price only covered a 16GB version of the handset though, with the 64GB variant going for $400. Either way it’s still a pretty good deal considering what we’re expecting from the new phone. Rumor has it the Xiaomi M5 will come equipped with a Quad HD display, a 3000mAh battery, a 16-megapixel rear camera (13-megapixels in front), 4GB of RAM, USB-C and a high-tech ultrasonic fingerprint reader. The device is also expected to be one of the first to ship with a Snapdragon 820 processor. Xiaomi probably won’t announce the Mi5 until early next year. Once it does arrive the device will likely be limited to China and a few other countries, though the company previously said it’s only a matter of time before it starts selling phones in the U.S. as well.