Chinese Smartphone manufacturer Xiaomi has officially announced that it upcoming Mi 5 phone will feature the latest Snapdragon 820 processor and will debut in February this year.

After several weeks of speculations, it is now official that Mi 5 Smartphone will arrive this February and will feature Qualcomm's latest processor the Snapdragon 820. The confirmation was made by Liwan Jiang, Xiaomi's co-founder and vice president, via his personal Weibo account.

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"The XiaomiMi 5 with the latest Snapdragon processor is ready and in volume production. It will be released after the Spring Festival to have enough time for stocking up," said Jiang.

Spring Festival is China's Lunar New Year, which means it will be launched sometime in early February, possibly on Feb. 8.

Recently, the upcoming Xiaomi smartphone was spotted on Oppomart's website, showing off its full specs. For some unknown reason, the link to the leaked specs has been taken down. However, a few websites managed to grab a screenshot on the post beforehand.

The device will feature a 5.5-inch displays screen with 2,560x1,440 resolutions. The phone is expected to also feature an IPS LCD and comes with four varieties of colors such as Gold, Black, White, and Pink.

The Mi 5 will be powered by Snapdragon 820 processor and comes with three different storage options including 16 GB, 64 GB, and the 128 GB. It is expected to be powered by a 3,800 mAh capacity battery.

Meanwhile, it is still unclear which UI interface it will feature - the  Mi 5, MIUI 7 or MIUI 6. The information indicated on the website shows that it will be featuring the MIUI 6, but analyst believe that it is a typo error. Instead, they suggest that the handset will boast of the MIUI 7, which will be based on Google's Android 5.1 Lollipop operating system.

Xiaomi Mi 5 Smartphone is rumored to be priced at $599, but this information has not yet confirmed by the company. 

TagsXiaomi News, Xiaomi update, Xiaomi Mi 5