Xiaomi is reportedly gearing up to launch another handset that is likely to boast an array of awe-inspiring specs coupled with an economical price tag.

Rumor mills have been swirling speculations around the Xiaomi Mi Note 2 since it was announced last month. To add fuel to all the current speculations, Xiaomi's CEO, Lei Jun announced that the smartphone will pack a surprise as soon as it hits the store shelves.

Xiaomi Mi Note 2: Specs & Features

The purported handset is likely to be powered by a Qualcomm's quad-core Snapdragon 835 processing chip, GSM Arena reported. Several other reports hint that the device will come with a Snapdragon 821 chipset instead. In addition, the handset is said to pack a hefty total of 6GB of RAM paired with a mammoth 128GB of memory space for its high-end iteration. Contrary to previous reports that teased a 16MP back shooter, recent reports indicate that the smartphone will be embedded with a 21MP rear camera equipped with a slew of features such as autofocus and the regular LED flash.

Furthermore, the looming Xiaomi phone will be powered by Qualcomm's Adreno 530 visual compressor. It is rumored to sport 2160 x 3840-pixel clarity. It is believed to run on Android Marshmallow operating system with a possible upgrade to the new Nougat OS in the future.

Aside from these, the Mi Note 2 is expected to boast a bevy of external attributes including a 5.7 or 6-inch multi-touch display that is further augmented by a Gorilla Glass panel, the USB Type-C connector, a couple of color variations and a non-detachable battery slab with a robust 3,600 mAh capacity.

Xiaomi Mi Note 2: New Render

Meanwhile, a new alleged render of the imminent Xiaomi Mi Note 2 has just surfaced online on Weibo (via Phone Arena). Although, the authenticity of the said renders cannot be confirmed at this point, the details that they seem to unveil are quite refreshing. The new Xiaomi Mi Note 2 render gives fans a sneak peek at what looks like a primary dual-camera setup on the back.