Xiaomi Mi smartphone
Xiaomi Mi 5 is likely to turn into reality on October 19Reuters

Chinese smartphone maker Xiaomi appears all set to launch the anticipated Mi 5 as early as next week. The new smartphone would be the successor to last year's flagship Mi 4.

The company has started sending out invites for a launch event for 19 October where the Xiaomi Mi 5 is finally expected to make its first public appearance. The invite has also been uploaded to Chinese social network Weibo.

Although the invite does not reveal any particulars about the flagship Mi 5, it features an image suggesting a big announcement. There is intense speculation that the company would introduce its Mi Note 2, as the successor to the earlier launched Mi Note, alongside the Mi 5.

Xiaomi Mi 5 launch invite
Xiaomi's invite suggesting the Mi 5 launchXiaomi

According to previous reports, the Xiaomi Mi 5 will feature a 5.3in display and come in two variants - one with a 64-bit Qualcomm Snapdragon 820 and the other with a MediaTek Helio X20. The company would provide Android 5.0 Lollipop-based MIUI on its new flagship smartphone in the initial stage and release an update to Android 6.0 Marshmallow soon after the formal launch. As an upgrade over the Mi 4, the Mi 5 would come with features like built-in NFC and a fingerprint sensor. The smartphone is rumoured to be priced at around 2,000¥ (£206).

After the speculated debut in China later this month, the Mi 5 will be launched countries like the UK and India.