The latest Xiaomi Mi 5 leak revealed that the 5.2 inch smartphone will come in four different colors: rose gold/pink, gold, white and black and feature a 16MP rear facing camera. The company CEO, however, said that they are not rushing to release the phone any time soon, explaining that they are still doing a few tweaks to improve the user experience.

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According to Android Headlines, fans were definitely surprised when Xiaomi Mi 5 was not released in July, given that it has been more than a year since the launch of its predecessor. Xiaomi CEO Lei Jun explained that they are in no rush to release the phone. He added that they wanted to "optimize it to the fullest" before they launch it.

The 5.2-inch Xiaomi Mi 5 will reportedly cost $308 and $354 for the 32GB and 64GB model, respectively. As for its camera, it will have a 16MP rear facing sensor and a 13MP front facing snapper perfect for selfies and even taking HD videos. The latest leak revealed that it will come in four colors similar to the iPhone: rose gold/pink, gold, white and black.

According to GSM arena, Xiaomi's new flagship device will be powered by Snapdragon 820 SoC, run on Android 6.0 Marshmallow and have a 3,600mAH removable battery. The new phone is also set to have the "world's smallest and fastest fingerprint sensor on the home button."

International Business Times speculated that Xiaomi Mi 5 will be released by Jan. 21, 2016. The outlet held that the delay was mainly caused by limited availability of Snapdragon 820 chipset.

TagsXiaomi Mi 5 release date, Xiaomi Mi 5 specs, Xiaomi Mi 5 features, Xiaomi Mi 5 battery, Xiaomi Mi 5 colors