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New Android Phones 2015: Xiaomi Wants to Beat Android Competition With New 'Ferrari'

Xiaomi is slowly becoming a household name not only in its home market, but throughout Asia as well.

That is because it is only one of the very few phone makers that are willing to develop high quality handsets, but charge a minimal fee for each device.

The Xiaomi Mi3, the first Android device from the Chinese maker that captured the hearts of customers, retailed for less than $300 for its base model.

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That "base" model has a 5-inch display with Full HD (1920 x 1080) resolution, 2GB RAM, a Snapdragon 800 chipset, and 13MP primary camera, not to mention its aluminum body and metal frame.

To keep it simply, Xiaomi produces the best quality phones at the best prices. And in a new report by Phone Arena, it looks like the phone maker will have a new device to offer.

Based on the report, a mysterious Android-powered device was spotted on GFX Bench benchmarking site. Dubbed as "Ferrari," the Xiaomi smartphone is said to be a mid-ranger – but what a high quality mid-ranger this would be.

In the leaked specs from the benchmark, the Xiaomi "Ferrari" boasts a 4.9-inch (5-inch) display, 2GB of RAM, and an octa-core CPU.

Running the show is a 64-bit Snapdragon 615, and Adreno 405 to handle the graphics.

Also on board are 12GB of internal storage, a 12MP primary camera and a 5MP front shooter. The device is expected to run on Android 5.0.2 Lollipop out of the box.

Xiaomi has announced a duo of high-end devices in January, named the Mi Note Pro, and the Mi Note. The company has also launched the Redmi 2, and has even hit Indian retailer Flipkart with flying colors.

Once this "Ferrari" phone becomes official, budget-conscious smartphone fans will have more options to enjoy Android 5.0.

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