People stand near a logo of Xiaomi ahead of the launching ceremony of Xiaomi Phone 4, in Beijing, July 22, 2014.REUTERS/Jason Lee

It's been over a year since Xiaomi released the Mi Note Pro, and now it appears to be set to release the Mi Note 2. The Chinese technology giant is tight-lipped on the new handset but reports have claimed that it will be announced on Sept. 5.

The upcoming device is expected to have several feature upgrades over its predecessor. It is expected to come in two variants – one with a 64GB internal storage and 4GB RAM priced at 2,499 Yuan, and the other with a 128GB internal memory and 6GB RAM priced at 2,799 Yuan. A few reports have suggested that it will be more powerful than the recently released flagship smartphone, the Mi 5.

Here is how the Xiaomi Mi Note 2 will stack up against the Mi Note Pro:

According to reports that have surfaced so far, the Mi Note 2 is expected to come with featured like a metal body, a fingerprint sensor, and a Force Touch support. It may sport a 5.7-inch 2K dual curved display, powered by a Qualcomm Snapdragon 821 processor, run Android 6.0.1 Marshmallow, and comes packed with a 64/128GB internal memory, and a 4/6GB RAM. It is also expected to mount a 12MP dual camera, and houses a 3,600mAh battery with Quick Charge technology.

On the other hand, the Xiaomi Mi Note Pro sports a 5.7-inch IPS LCD capacitive touchscreen with 1,440x2,560 pixels (515 ppi pixel density), powered by a Qualcomm Snapdragon 810 processor clocking at 1.5 GHz and runs Android 5.0.1 Lollipop operating system. It features a 64GB internal memory, a 4GB RAM, a 13MP main camera with f/2.0 aperture and OIS, a 4MP front-snapper with f/2.0 aperture, and a 3,000mAh battery.