The smartphone hasn't been officially announced by the Chinese tech giant but the glimpse of the device was seen after images were leaked on internet.

Reports in the media suggests that the handset will be launched on April 8.
According to a Chinese blog, Xiaomi's new entrant will be priced at CNY 499 (approximately Rs. 5,000) instead of the previously rumoured CNY 399 (Rs. 4,000).

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Xiaomi's all new device features a 4.7-inch HD display with 720x1280 pixels resolution. The device is clocked at quad-core 1.6GHz Leadcore LC 1860 CPU; Mali T628 GPU complimented by 1GB of RAM.

The rear surface of the smartphone features 13-megapixel camera with LED flash and 2-megapixel camera on the front surface. On the memory front, the ult-affordable device gets 8GB of inbuilt storage capacity. It will run on Android 4.4.4 KiKat with latest MIUI skin on top.

Read more: Xiaomi Mi Pad 64GB up for grabs through open sale on Flipkart

Xiaomi will turn five in April and to celebrate it's anniversary the company is planning to hosting an event on March 31. Along with that, the company's CEO Lei Jun will unveil device (or devices) at the  event on MIUI forum.

Also Read: Xiaomi joins hands with The Mobile Store for offline sales: Report

The company has stayed any word on what it will be launching, but we are accepting the company to launch their ultra-affordable smartphone along with the much speculated Mi Band successor smartwatch and mid-range 'Ferrari' smartphone.

"With all your support and company over the years, Xiaomi is turning 5 next month. We have prepared big surprises for Mi fans who have loved Xiaomi all the way," the company said on Wednesday.

The all new smartphone will give tough competition to Lenovo's A6000 which is being widely acclaimed as one of the best devices in the budget category.