Best deals, exchange offers on mobiles on Amazon Great Indian Festival
Best deals, exchange offers on mobiles on Amazon Great Indian FestivalREUTERS/Jason Lee

India has turned out to be an important market for Xiaomi with its devices such as Redmi 1s, Redmi Note and Mi 4 being sold like hot cakes, despite launching in the country months after it is released in China. Considering the position the company holds in the country, it is planning to release the Mi 5 in India sooner than expected.

Xiaomi Mi 5 was unveiled Feb. 24 at the on-going Mobile World Congress 2016 (MWC 2016) in Barcelona, Spain.

Xiaomi VP Hugo Barra has said that the just announced Mi 5 will be released in China March 1 and India launch will follow shortly, TechCrunch reports. He didn't reveal the exact date, but it won't come as a surprise if it comes to India in the month of March, or even a few days after it hits Chinese stores. 

[Read: Xiaomi Mi 5 vs Galaxy S7 vs LG G5: A look at specs of new flagship devices]

The company has already opened pre-orders for the device in China,but it still not known if it will come to the United States and Europe.

The next-generations device from Xiaomi comes in three models. The Mi 5 Pro comes with a price tag of ¥2699 (around $413/€376/Rs 28,307), while 32GB model of Mi 5 is priced at ¥1999 (around $306/€279/Rs 20,965) and 64GB model costs ¥2299 ($351/€320/Rs 24,111).

[Read: Xiaomi unveils Mi 5 series with Snapdragon 820 CPU]

Xiaomi Mi 5 sports a 5.15-inch full HD screen with 1,920x1,080 pixel (428 ppi pixel density), a home button and a fingerprint censor. It is powered by a Qualcomm Snapdragon 820 processor, runs on Android 6.0 Marshmallow with MIUI v7.0, and comes packed with a 32GB/64GB internal memory and 3GB RAM, and a 128GB internal storage and 4GB RAM.

The device houses a 6MP Sony IMX298 main camera with Phase Detection Auto Focus, Deep Trench Isolation technology, 4-axis OIS and Dual-tone LED flash, a 4MP front-snapper with 2µm pixel size, f/2.0 and 1/3" sensor size, and a 3,000 mAh with Qualcomm Quick Charge 3.0 technology.