A man checks his mobile phone as he walks past a logo of Xiaomi during its Phone 2 launch ceremony in Beijing August 16, 2012.
A man checks his mobile phone as he walks past a logo of Xiaomi during its Phone 2 launch ceremony in Beijing August 16, 2012.REUTERS/JASON LEE/FILES

Specifications of the Xiaomi's new smartphone Ferrari has surfaced online ahead of launch.

Technology blog My Drivers while sifting through the popular GFX Benchmarking site, has stumbled up on a Xiaomi unreleased handset code-named Ferrari being tested on Android 5.0 Lollipop OS.

According to the entry, Xiaomi Ferrari sports 4.9-inch full HD display and is expected to ship with 64-bit class Snapdragon 615 series Octa-core SoC (System on Chip), Adreno 405 graphics engine, 2GB RAM and 16GB inbuilt storage.

On the photography front, it houses 12mp camera with LED flash, auto-focus, HDR, touch-focus full HD video-recording ability and a 5mp snapper on the front with full video-recording ability.

Going by the specification list, it looks like Xiaomi is planning to introduce a new mid-range phone. The company already sells smartphones Redmi 2 and Redmi Note 4G in the budget segment, whereas in the top-end category, it retails Mi4 and Mi Note series.

This new Xiaomi phone codenamed Ferrari will be placed in between the budget and high-end segments to offer more choices to the customers.

In a related development, Xiaomi is also reportedly building a low-end Mi4 variant E4. It has same specifications seen inside original model, except the RAM capacity. The former features 3GB RAM, whereas the latter houses 2GB RAM.

[Read more: Mi4 Variant Xiaomi E4 Spotted at Telecommunication Certification Site; Key Specifications Revealed]

As of now, there is no official word from the company regarding speculations surrounding these two phones. But, word on the street is that Xiaomi is expected to announce a new smartphone and a much-awaited new smart-wearable dubbed as Mi Watch next week on the eve of company's fifth anniversary on 31 March.