Xiaomi Mi 6 is powered by the Snapdragon 835 processor.Xiaomi / Twitter

Chinese Smartphone company Xiaomi has unveiled its latest flagship handset, the Mi 6, in Beijing on Wednesday, with new hopes to revive its fortunes after the company suffered a sales slump last year.

Xiaomi's regular Mi line of smartphones is known for offering competitive specs at a reasonable price. The new Xiaomi Mi 6 is also not an exception, with its 64GB version costing 2,499 yuan (about $360 or Rs. 23,410) and the 128GB version costing 2,899 yuan ($420 or Rs. 27,157). The ceramic edition with 128GB storage, on the other hand, is priced at 2,999 yuan ($435 or Rs. 28,094).

With a price range much lower than that of premium flagships like Samsung Galaxy S8 and Apple iPhone 7, the Xiaomi Mi 6 does sport some key specs that have the oomph to challenge such high-end devices. For example, the new Xiaomi phone comes with the Snapdragon 835 processor, a top-end Qualcomm chip that is found inside the Galaxy S8. The same processor also powers the Sony Xperia XZ Premium, which is likely to go on sale in the second quarter of this year.

Xiaomi has also bumped up its RAM to 6GB with the Mi 6. According to recent Geekbench test results, the phone scored 2,006 in a single-core test and 6,438 in a multi-core test. In both tests, it outperformed the Samsung Galaxy S8 (1,916 single-core and 6,011 multi-core) and Samsung Galaxy S8+ (1,929 single-core and 6,084 multi-core).

The Xiaomi Mi 6 sports a 5.15-inch display carrying a 1080 x 1920 full HD resolution. The phone has a 3350mAh battery, which is expected to provide impressive battery life thanks to the Snapdragon 835 SoC that is 25 percent more efficient than the Snapdragon 820 found in the Galaxy S7.

The Xiaomi Mi 6 sports a 12MP dual-camera array, which takes inspiration from Apple's approach of mixing a wide-angle lens and a telephoto lens in the iPhone 7. The Mi 6 camera also features a bokeh-style photography option, in addition to 10x digital zoom, 2x lossless zoom and optical image stabilisation (OIS) technology.

While there is no 3.5mm headphone jack on the Xiaomi Mi 6 (another iPhone-inspired move?), the handset will feature stereo speakers. There is an under-glass fingerprint sensor on the front as well, something that the upcoming iPhone 8 is rumored to feature.

The Xiaomi Mi 6 will go on sale from Mi.com and 72 Mi Home Stores in China on April 28. While the company said that an international release for "selected" markets will be announced at a later date, it will remain largely focused on its home turf and other emerging markets like India.