Previously, speculations suggest that the new Xiaomi Mi Note 2 will come out sometime this month. However, with the Mi 5s supposedly launching this week, a new schedule may see the Mi Note 2 launching later this year instead.

Xiaomi has already confirmed that it will be having a press event on Sept. 27. However, supposed leaks that have been surfacing online only point to the Mi 5s being launched. There are speculations going around, suggesting that the press event may see two flagships being unveiled. However, having the Mi Note 2 being co-launched with the Mi 5s seems unlikely. If this was the case, the two flagships will have release dates that are quite close to each other, and this would likely cause the two lineups to compete with each other on the market.

It is highly likely that, with the release of the Mi 5s, Xiaomi will then be set for a late 2016 release of the Mi Note 2, probably just in time for the holidays. This is possible, given that the Mi Note 2 is being positioned as one of the most premium flagships once it releases.

According to GSM Arena, alleged leaks on the specs of the upcoming flagship point out that a top-tier phablet flagship is in the works. One premium variant of the Mi Note 2 will reportedly feature a Snapdragon 821 chipset. This is most likely since Qualcomm has already confirmed the release of the step-up processor. However, what's interesting to note is that a new "Pro" version of the Mi Note 2 is supposed to come out with massive 8 GB of RAM and at least 256 GB of onboard storage. The supposed leaks also point out that the new iteration will come out with the Android Nougat 7.0 onboard, layered with Xiaomi's own MiUI platform, and a dual-curved display like the Samsung Galaxy Note 7.