Xiaomi has enjoyed great success in 2014, the company managed to sell 61 million devices last year, which is a lot compared to 19 million they sold a year before. Xiaomi has a great appetite for success, and they intend to do even better this year. The company aims to sell 100 million handsets until the end of 2015, which is quite optimistic. China’s number 1 smartphone manufacturer has already released a slew of devices this year, including their two new flagship smartphones, the Mi Note and Mi Note Pro, which were announced back in January. That being said, everyone is eagerly awaiting the announcement of the Mi 4’s successor, the Mi 5.

We’ve already seen a ton of leaks regarding this device, though Xiaomi didn’t say anything officially as far as this device goes. The Xiaomi Mi 4 was announced back in July 2014, and almost everyone assumed that the company will announce its successor mid-2015, but that might not be the case though. According to an analyst, Pan Jiutang, Xiaomi Mi 5 might arrive in the fourth quarter this year (October, November or December). By the looks of this post on Weibo (Chinese social network), this is just an educated guess, though a surprising one. We’ll surely hear more about the Mi 5 in the coming weeks / months, but this comes a bit of a surprise for sure.

The Xiaomi Mi 5 will be the company’s new flagship when it launches, and it is expected to be a significant upgrade over the Mi 4, which is still a solid device with great specs on the inside. The Mi 5 is expected to have a similar spec sheet to the Mi Note Pro, which means the device is rumored to sport a QuadHD display and 4GB of RAM. Qualcomm’s Snapdragon 810 64-bit octa-core processor will most likely power on this handset. The Mi 5 is also expected to sport a premium hardware build and ship with Android Lollipop pre-installed with the company’s MIUI OS on top of Google’s operating system, of course.

That’s it, take this report with a pinch of salt, as always, this is just an analyst prediction at this point, we’ll let you know as soon as we get additional details regarding the device.