Rumors are all over the web regarding soon to be released Xiaomi Mi 5. According to the leaked information, Mi 5 will be launched this coming July along with Mi 5 Plus. It was on Weibo that the leaked information about Mi 5 surfaced. Apple was the first to offer phones with "Plus" features, and this may be Xiaomi's inspiration in releasing its Mi 5 Plus. 

One of the leaked features of Mi 5 is that it has 5.2-inch display powered by Qualcomm Snapdragon 810 processor with 3GB or 4GB of RAM. It also comes with a 16-megapixel camera with 3000mAh battery. Regarding Mi 5 Plus, it has a 6-inch 2K display, with no confirmed processor yet. Also with a 16-megapixel camera and can be of 4 GB of RAM (with 32GB internal memory).

Reports said the Android Open Kang Project (AOKP) is teaming up with Xiaomi. Team Kang members are rumored to be working for the upcoming Mi 5. Xiaomi is expected to work on Lollipop-based MIUI 7 user interface for the Mi 5, for it to be released in a Lollipop 5.1 OS. AOKP is known for creating custom Android ROMs for devices.

Mi 5 is also rumored to have fingerprint sensors, like its rivals Samsung Galaxy S6 and iPhone 6. Camera sensor of Mi 5 will come from either Sony, OmniVision or Samsung. But it will be more likely from Sony as it has a large market share, so it has a lower price tag compared to Samsung and OmniVision, which can be seen as a huge advantage on Xiaomi's side.

A look at Xiaomi's patent application reveals a technology that will allow placing a scanner in a home button similar to iPhone 6.

While waiting for the release of Mi 5, Xiaomi already released its Mi Note Pro in January. It has Snapdragon 810 which is better compared to the ones present in HTC One M9 and LG G Flex 2.