Upcoming Xiaomi Phones 2015: China's Most Popular Phone Maker to Release Budget Handset for Under $70

Xiaomi is definitely on a roll.

After announcing two of the most powerful handsets in January, the Android-phone maker aims to provide an even cheaper alternative for the market.

According to a report by Phone Arena, a leaked image has surfaced online over the weekend, showing an alleged Xiaomi handset. The smartphone will be in the mid-range category, although its pricing would be much lower than most mid-range devices in the market.

The Xiaomi smartphone is tipped to boast some decent specs such as a 4.7-inch display with HD (1280 x 720) resolution, and a quad-core Lead Core LCI LC1860C CPU. The phone also runs on 1GB of RAM and Mali T628 GPU to take care of the graphics department. Also on board is an 8GB internal storage, and a microSD card slot.

The photography department comes with an impressive 13MP primary camera and a 2MP front shooter for selfies and video calls. Summing up the rumored spec sheet of the device is 4G LTE Cat.4, which can booast download speeds by up to 150mbps, and Android 4.4.4 Kit Kat out of the box.

In the report, Xiaomi CEO Lei Jun reportedly announced that the Chinese phone maker would soon launch a device that costs only $64.

While there is still nothing official about the pricing of the mysterious mid-ranger from Xiaomi, the market is already preparing for a low selling price.

Xiaomi is relatively a newcomer in the field of electronics and mobile technology. The company released its first smartphone in 2011, though the first device that caught the market's attention was the Xiaomi Mi3.

This year, Xiaomi has already announced two high-end devices, and a third one might come by fall, dubbed as the Mi5.