Rumor: The Xiaomi Mi5 will only cost $320 despite its ridiculous specs

Xiaomi is expected to pack its rumored Mi5 with plenty of high-end specs, but it turns out the company may not have to raise the price as a result. A new rumor claims the upcoming smartphone will be just as budget-friendly as its predecessor. According to Chinese tipster Leaksfly, the Mi5 will cost the same as last year’s Mi4, which started at just $320. That price only covered a 16GB version of the handset though, with the 64GB variant going for $400. Either way it’s still a pretty good deal considering what we’re expecting from the new phone. Rumor has it the Xiaomi M5 will come equipped with a Quad HD display, a 3000mAh battery, a 16-megapixel rear camera (13-megapixels in front), 4GB of RAM, USB-C and a high-tech ultrasonic fingerprint reader. The device is also expected to be one of the first to ship with a Snapdragon 820 processor. Xiaomi probably won’t announce the Mi5 until early next year. Once it does arrive the device will likely be limited to China and a few other countries, though the company previously said it’s only a matter of time before it starts selling phones in the U.S. as well.