It was reported that Xiaomi Mi 5 could be unveiled this month. However, Xiaomi's president and co-founder Lin Bin has confirmed in a Weibo post that the flagship device will not be announced on the day.

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The Chinese smartphone maker had sent out a press invite scheduled to take place in Beijing on 19 October, sparking off speculations that Xiaomi Mi 4 successor may arrive on the day. However, Lin Bin has rubbished the reports, leaving Xiaomi fans confused.

It may be recalled that WCCF Tech had earlier reported citing sources from Beijing that Xiaomi Mi 5 may see the light of day by the end of November. Nothing is confirmed but it won't come as a surprise if it arrives next month or at least by the end of this year.

According to reports that have surfaced so far, Xiaomi Mi 5 is expected to come with features like a 5.2-inch QHD touchscreen with 2560 x 1440 pixels screen resolution and protected by Gorilla Glass 4, fingerprint sensor and Type-C USB port.

Under the hoods, it is expected to house a Qualcomm Snapdragon 810 or Giacomo Snapdragon 820 processor, Android 5.1.1 Lollipop, 32/64 GB internal memory and 4 GB RAM, 16 MP main camera with optical Image stabilisation (OIS), 5 MP secondary snapper and 3,000 mAh battery.

It is also reported that Mi 5 will come with a price tag of $399 or approximately Rs 26,500.