The third quarter of the year 2015 may not be too far off now given the date in the calendar and the expected announcement for the Xiaomi Mi 5 unit may not be too long now either. While rumors have it that the next flagship unit for Xiaomi after Mi 4 has been in planning for development even prior to official launch of its predecessor.

The details about Xiaomi Mi 5 (price, specs), and its possible variant, Mi 5 Plus, is getting clearer and clearer albeit mostly speculations from now.  

If GSMArena's report regarding the scheduled official announcement and possible release of the Xiaomi flagship smartphone unit is accurate and true, then the possibility of us officially hearing of Mi 5 will be as early as September and possibly see a release of the successor to Mi 4 soon after.

An altogether different source says it would probably be earlier by around July yet other more specific and later report, however, claims that the unit is set for release between October and November.

Whatever the exact date may be of its official announcement and potential release, there are also leaks regarding the specifications of the unit in a price yet to be known. According to the latest report by Forbes, this fifth Mi installment by Xiaomi will run on a Snapdragon 820 processor, developed by a leading mobile processor manufacturer, Qualcomm, whose Snapdragon 810 is the fastest to date but not without its own issues intact (prone to heating, et cetera).

In an older yet separate leaked information coming from Gizmochina as conducted through Weibo, China's own social media, the Xiaomi Mi 5 unit will feature a 5.2 inches screen, 3000 mAh battery, 16-MP rear camera, and either a 3 or 4Gb of volatile memory. 

It may be too early for now to speculate for Xiami Mi 5's pricing (and hence the lack thereof), but the flagship device's specifications based on paper is as "monstrous" as any smartphone units can get to date.