Xiaomi is going to hold a launch event on Oct. 19 that might see it unleash the new Xiaomi Mi 5 smartphone.

It made the announcement about the Oct. 19 event on Weibo, China’s most famous social networking site, according to NDTV. Speculation also indicates a successor model to the Mi Band fitness tracker might also make its appearance at the launch event.

The Xiaomi Mi 5 is one of the most anticipated smartphones for 2015, and will succeed the well-acclaimed Xiaomi Mi 4 marketed in July 2014. The rumour mill still claims the Xiaomi MI 5 will be launched on Oct. 19 and will be made available for purchase in November.

Early reports claim the Xiaomi Mi 5 will be powered by the new Snapdragon 820 chipset. According to Phone Radar, the Chinese firm may opt to use the Helio X20 chipset from MediaTek or the Snapdragon 810 v2.1 since there’s a delay in the production of the SD 820 chip.

As for the other specs of the Xiaomi Mi 5, these include a 5.3-inch Quad HD screen and an SoC supported by 4 GB of RAM. The new phone will be available in native storage options of 16 GB and 64 GB. The rear-facing camera of the Mi 5 will be a 16 MP.

It will feature a USB Type-C port; a fingerprint scanner and will be equipped with a 3,030 mAh capacity battery. The starting price of the Xiaomi Mi 5 is expected to be $315.

Another product that might be unwrapped on Oct. 19 will be the Mi Pad 2 tablet, GSM Arena reported. It will replace the older Xiaomi Mi Pad tablet released in June 2014.

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