MANILA, Philippines – Xiaomi launched its newest flagship phone, the Mi5, at an event in Beijing on Wednesday, February 24.

Xiaomi’s new device runs on a quad-core Snapdragon 820 processor, with an Adreno 530 GPU. The Adreno is said to increase the phone’s performance by 40% and drop power consumption as well.

The Mi5 uses a 5.15-inch screen, with a fingerprint reader built into the home button. It also comes with up to 4GB of RAM and up to 128GB of storage space. The device also supports near-field communications (NFC).

Hugo Barra: #Mi5 takes its design cues from the elegance of Mi Note. It comes in three colors: black, white, gold pic.twitter.com/gK80onM900

— Mi (@xiaomi) February 24, 2016

The Mi5 takes advantage of a 16-megapixel rear camera. According to Tech In Asia, it also has a quick-charging feature which is said to allow the phone to have 2.5 hours of talk time on a 5-minute charge.

Xiaomi’s Mi5 will start at RMB1999 ($305) for a 32GB model and RMB2299 ($352) for a 64GB model. A pro version with 128GB of storage will cost RMB2999 ($459). The devices will come in either black, white, or gold.

VentureBeat added that sales will begin on March 1, with China the first to get the device, followed by India.

And #Mi5 is official! Check out the specs and features here. Is it all you ever imagined, and more? 🙂 pic.twitter.com/1eCjo0OHy4

— Mi (@xiaomi) February 24, 2016

– Rappler.com