Xiaomi Mi5
Xiaomi Mi 5 could be launched in November Reuters/China Daily

Xiaomi could be launching its much-awaited flagship smartphone, Mi 5, in weeks. The indication came as the Chinese company gave the Mi 4 a 15% price cut. Multiple reports have previously hinted at a November launch for the Xiaomi Mi 5.

Xiaomi Today, quoting the official Xiaomi eStore, reported that the Mi 4 is now available at a discount of $35 in China. It now costs ¥1299 ($205, £133), compared to the earlier price of $240. The smartphone can be bought on the the company's eStore.

The Mi 5's launch has been delayed multiple times earlier. Another reason for its likely launch in November includes Samsung's rumoured release of its flagship Galaxy S7 by January 2016.

Rumour mills have speculated on the technical specs of the Xiaomi Mi 5. According to reports, the phone will feature a comparatively smaller 5.3in IPS capacitive display and run on Android 5.1 (Lollipop), with the newer MIUI 7 on top.

The handset is said to be driven by a 2.2GHz quad-core and a 1.8GHz quad-core CPU within a Qualcomm Snapdragon 820 SoC. A 13MP rear and 5MP front camera are also rumoured. The phone is likely to have 4GB RAM and provide 16/64GB non-expandable internal storage. The smartphone would be powered by a fixed 3,300 mAh lithium-polymer battery.