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Xiaomi Launches New Flagship Smartphone
   2016-02-24 20:32:12    CRIENGLISH.com      Web Editor: Meng Xue

Chinese smartphone maker Xiaomi releases its new smartphone Mi5 in Beijing on February 24, 2016. [Photo: ifeng.com]

Chinese smartphone maker Xiaomi released its new smartphone - the Mi5 - on Wednesday.

The Mi5 is powered by a Qualcomm Snapdragon 820 processor.

The price of the basic version is 1,999 yuan or 306 U.S. dollars.

Xiaomi also released an updated version of the Mi4, which has hit the shelves priced at 1,699 yuan.

The Beijing-based smartphone maker continues to release budget smartphones under the RedMi line to retain its market share here in China.

The sales target last year was 80 million units.

CEO Lei Jun says the company remained the number one phone brand in China.

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