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 is natural for Xiaomi fans to expect big from the upcoming Redmi Note 4 aka Redmi Pro, especially since its predecessor, the Redmi Note 3, did exceptionally well in India and China. The budget device that was released a few months ago took emerging markets by storm with its impressive specifications and aggressive pricing, and now the focus is on its successor.

The Chinese technology giant hasn't officially announced the release date of the Redmi Note 4, but it is obvious that the device will be unveiled at its scheduled event on July 27. Several reports had earlier claimed that the device would see the light of day in August but it is coming earlier than expected.

Here are five things you may want to know about Xiaomi Redmi Note 4:

Design: The upcoming smartphone may not look very different from the Redmi Note 3. A Weibo user named Said Yang Feng Technology (via GizmoChina) has claimed that Xiaomi's new handset will be "oversized," hinting that it will be bigger than its predecessor, but most reports have suggested that it will sport a 5.5-inch screen, the same as the Redmi Note 3. It is also reported that the device will come with a display based on OLED (Organic Light Emitting Diode). 

Hardware: There are conflicting reports on the processor that is expected to power the Xiaomi Redmi Note 4. It is likely to come with either a Helio X20 deca-core SoC or a Qualcomm Snapdragon 652 processor, compared to a Qualcomm Snapdragon 650 seen in the Redmi Note 3.

Storage, RAM and OS: The upcoming smartphone is expected to come packed with a 16GB internal memory and a 4GB RAM, and run Android 6.0.1 Marshmallow-based MIUI 8 operating system.

Camera: The Xiaomi Redmi Note 4 is expected to house a dual camera. It may come with a 13MP main camera as against a 16MP main camera with f/2.0 aperture, phase detection autofocus and dual-LED (dual tone) flash, and a 5MP front-snapper with f/2.0 aperture seen in the Redmi Note 3.

Battery: The device will reportedly have a 4,100mAh battery with fast charging technology.