The Xiaomi Mi 5 is heading our way with an anticipated launch date of February 24. Xiaomi, who has put a lot of their company’s reputation into the device, has anticipated this next-generation of smartphone.

Xiaomi, the dilemma

Xiaomi, has been under close scrutiny by both investors and the consumer market. As you may already know, the Xiaomi Mi 5 is the highly anticipated replacement to the Mi 4, which was released over 2 years ago. With so much at stake, the company has only reported shipping just over 70 million phones for 2015. The company has also been reported to be under scrutiny for its reporting of its $46 billion valuation when it grossly missed its sales targets last year. The now scrambling company has a lot riding on this release.

Mi 5, the specs

Information that was leaked gave details of the four varieties of models that will be available on February 24. There will be two metal versions, one with 3GB of RAM and 32 GB of storage that will sell for about $350. The second will have a 4GB/64GB set up respectively, and will run about $400. There will also be two glass versions.

Xiaomi confirmed earlier this year some of it’s specifications, while others are speculated from leaked photographs. It has been confirmed to feature Qualcomms latest Snapdragon 820 processor. In several leaked images, the Xiaomi Mi 5 may sport a physical home button, which may serve as a fingerprint scanner. It will also use a pressure sensitive touch screen, and will likely be the first time Xiaomi releases a phone running Android 6.0 Marshmallow.

With the excitement surrounding this release, Xiaomi also stated that the phones had already entered into production, and there would be enough units available to meet consumer demand when the product launches.