Xiaomi Mi 5s
Attendants are silhouetted in front of Xiaomi's logo at a venue for the launch ceremony of Xiaomi's new smart phone Mi Max in Beijing, May 10, 2016. Reuters/Kim Kyung-Hoon

Due to lack of any official statement from Xiaomi for its highly-anticipated Mi Note 2, the Internet is full of rumours about the handset’s specs and features. However, a recent official-looking teaser has leaked online and has confirmed the dual rear camera setup. The sensors are also in a position similar to that of Apple iPhone 7 Plus.

According to GSMArena, the Xiaomi Mi Note 2 may sport a Qualcomm Snapdragon 821 chipset and a large 5.7-inch display. While opinions are divided as to the camera specs, it is likely that the handset will have a 13MP dual rear camera setup and an 8MP front camera.

The 64GB internal storage variant may come with a 6GB RAM while the 256GB variant may sport an 8GB RAM. As per The Bitbag, the Xiaomi Mi Note 2 is a premium device with similar to the iPhone 7 Plus and Samsung Galaxy Note 7.

There is also some buzz that Xiaomi may release the Mi Note 2 in two variants, Mi Note 2 and Note 2 Pro. Some believe the Mi Note 2 to sport specs better than Samsung Galaxy Note 7. The device may also have a 3,600-4,000 mAh battery.

Nothing is known yet about the Xiaomi Mi Note 2 pricing. The 256GB variant is not expected to cost more than US$400 (AU$525 approx). That would be less than half the Galaxy Note 7’s price. If that’s really the case, then Galaxy Note 7 may face tough competition as its launch has been shrouded by faulty batteries and subsequent device recall. Sales have taken a major hit.

As far as the Xiaomi Mi Note 2 release date is concerned, rumours suggest the mobile maker is looking to launch the device either in October or November.

For more updates on Xiaomi Mi Note 2, stay tuned on GameNguide.