Website Mobipicker quoted sources saying that the latest handset release by the Chinese firm is codenamed Libra, adding the device would come with 4GB of RAM and the Snapdragon 820 chipset.
The phone will come with either 16 or a 64GB internal storage, a 5.3 inch display with a resolution of 1440 x 2560 pixels and a 3,030mAh battery.
According to the site, the Mi5 will carry a 16-megapixel flip side camera and a 6-megapixel front snapper for selfie lovers. The handset will run Android 5.1.1 out of the box and will come with fingerprint scanner.
The exact date of release is still not known.
Source: Techradar