Xiaomi is set to launch another handset that features a wide range of awesome specs and comes with a cheap price tag.

Since it was announced last month, rumors have been going around that the Xiaomi Mi Note 2 will be available on the market soon. This new handset will reportedly be launched with a surprise, as confirmed by Xiaomi's CEO, Lei Jun.

According to reports, the new Xiaomi Mi Note 2 will be powered by a Qualcomm quad-core Snapdragon 835 processing chip. However, some reports also claim that the device will be powered by a Snapdragon 821 chipset. The handset will also be packed with a total of 6GB of RAM, paired with 128GB of memory space for high-end iteration.

Previous reports claimed that the device will feature a 16MP back shooter, but recent reports suggest that it will be embedded with a 21MP rear camera and a whole lot of other special features, including autofocus and LED flash.

When it comes to its visual compressor, rumor has it that the up and coming smartphone will be powered by Qualcomm Adreno 530 visual compressor with 2160 x 3840 clarity. It is also said to run on Android Marshmallow operating system, which can be upgraded to Nougat OS in the near future.

Xiaomi Mi Note 2 also boasts of its 5.7 to 6-inch multi-touch display, which will be further augmented by its Gorilla Glass panel. Among its other notable features are its USB type-C connector and its non-detachable battery slab which has a strong 3,600 maH capacity.

As of this writing, the new device is reportedly already being mass produced.