In a recent post from Weibo, Li-Wanqiang, the Co-founder of Xiaomi announced an event to be held on the 24th of February, wherein the launch of the much-anticipated flagship smartphone Xiaomi Mi 5 is expected.

The post also reveals that Xiaomi is planning a ticket based system for sales of the first batch a week after the 1st March Spring Conference. More details about the device would be revealed by the company on the 26th of January.

Talking about the rumored specifications, Xiaomi Mi 5 features a 5.2-inch display with a pixel resolution of 2560 x 1440 in both Quad HD and 1080p variants. Although there are no confirmations, it is said that the 1080p display variant would feature a glass and metal build while Quad HD display would have a premium all-metal build.

Featuring a fingerprint scanner in the home button, both these variants are said to be powered by a Qualcomm Snapdragon 820 chipset coupled with 4GB of RAM.

On the memory front, the phone would come in two storage variants, one with a 32GB internal storage capacity and another with 64GB internal storage capacity.

Coming to the camera, the handset is expected to sport an impressive 16-megapixel main camera and an 8-megapixel front snapper. Further, it would be fuelled by a 3,600mAh battery.

During Spring Conference, it is speculated that Xiaomi might launch other gadgets as well. As of now, the company has not mentioned any details about the pricing or availability of Xiaomi Mi 5.