Lei Jun, founder and CEO of China's mobile company Xiaomi, shows new features at launch ceremony of Xiaomi Phone 4 in Beijing
Lei Jun, founder and CEO of China's mobile company Xiaomi, shows the new features at a launch ceremony of Xiaomi Phone 4, in Beijing, July 22, 2014. China's Xiaomi unveiled on Tuesday its new flagship Mi 4 smartphone, aimed squarely at the premium handset market dominated by Apple Inc and Samsung Electronics Co Ltd. REUTERS

Xiaomi Redmi Note 2 release date is set to Jan. 15. The handset will replace the original Redmi Note that was released in March 2014. In January, Xiaomi is speculated to organize two launch events. On Jan. 4, it will unleash a newer edition of Redmi 1S with support for 4G LTE called the Redmi 1S Dual 4G and on Jan. 15, the Redmi Note 2 will be announced.

Even though the tech world is speculating on Xiaomi Mi5, there is no confirmation on the official specs and release date of the device. The Redmi Note 2 will be launched with an affordable price tag. PhoneArena claims that off-contract price of the device would be $160 or even as low as $145.

Xiaomi Redmi Note 2 specifications include a 5.5-inch full HD LCD screen. The handset is powered by a 64-bit Snapdragon 615 or Media MT65752 chipset along with 2 GB of RAM. The native storage of the device is said to be 16 GB. The device will come preloaded with Android v4.4. KitKat overlaid with MIUI 6 proprietary user interface from Xiaomi.

Xiaomi Redmi Note 2 features a rear camera of 13 MP and there is a front-facing camera of 5 MP. The handset will be packed with a large battery of 3100 mAh capacity. PhoneArena claims that there is fierce competition between Chinese brands. Meizu has recently unleashed a new smartphone named Meizu Charm Blue Note which has almost the same specs that are present on the Redmi Note 2. However, it comes with a better design and very thin bezel, states PhoneArena.

As far as the Redmi 1S Dual 4G is concerned, it features a 4.7-inch HD display driven by a 64-bit Snapdragon 410 chipset along with 1 GB of RAM and it is equipped with an inbuilt storage of 8 GB. The handset has an 8 MP at the rear whereas 2 MP at the front. The Redmi 1S Dual 4G is shipped with Android 4.4. KitKat with MIUI and a 2200 mAh battery, reveals another post from PhoneArena. Xiaomi is yet to officially confirm on the release date of both the devices.

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