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The much-hyped Xiaomi Mi 5 is not far from hitting the stores. Its release details and timing have been confirmed, and it is going to happen in February.

Xiaomi co-founder Liwan Jiang has confirmed that Xiaomi Mi 5 will be unveiled in February after the Chinese Spring Festival, which falls on 8 February, and launch one week after the official announcement, reported GizmoChina

It may be mentioned that Gadgetz Arena had earlier reported, citing a Weibo tipster, that Xiaomi Mi 5 would be released either on the day of its unveiling on 20 February or the next day. There was another report claiming Xiaomi Mi 4's successor would be announced on 21 January and release on 8 February.

According to reports that have surfaced so far, Xiaomi Mi 5 will have several feature upgrades over its predecessor Mi 4. It is expected to sport a 5.2-inch QHD touchscreen with 2560 x 1440 pixels screen resolution, protected by Gorilla Glass 4, and come with white, gold and black at a price of around $399 (approximately Rs 26,500).

Under the hood, the flagship device is expected to have a Qualcomm Snapdragon 820 processor, run Android 5.1.1 Lollipop with MIUI7, 16/64GB internal memory, 4GB RAM, 16 MP main camera with optical Image stabilisation (OIS), 8 MP secondary snapper, and 3,600mAh battery.

In terms of connectivity, the device is also expected to support 4G-LTE network, USB Type-C interface and NFC. It is also expected to come with LED light notification feature and fingerprint censor.

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