With IFA 2013 kicking off into full swing, yesterday we were hit with loads of mobile announcements. You have no doubt been keeping up with our coverage on some of the bigger announcements, with devices like the Samsung Galaxy Note 3 , Samsung Galaxy Gear , Sony Xperia Z1, and a pile of new ASUS devices all made official.

What is Xiaomi?

In the wake of unveilings from well-known hardware manufacturing giants comes newcomer Xiaomi. You might know the startup by their unique custom UI that was made popular in custom ROMs a few years ago known as MIUI. But that’s only the half of it. Xiaomi has since taken the Chinese smartphone market by storm after releasing their first MIUI smartphone back in 2011, known for offering high-end specs with affordable pricing.

Now valued at around $10 billion, Xiaomi recently beat out Apple in smartphone shipments, rising all the way to the number 6 spot in China. Apparently they’ve been doing so well that that ex-Android VP of product Hugo Barra recently left his cushy gig at Google to help head Xiaomi’s newest division, Xiaomi Global.

Xiami Mi-3 Specs

In the wee hours of last night, Xiaomi announced the much anticipated next generation follow up to their MIUI phone, the Xiaomi Mi-3 (or Mi3, MiPhone 3, depending on translation). Hugo Barra was in attendance for the event where Xiaomi detailed the device’s specs:

NVIDIA Tegra 4 processor or Qualcomm Snapdragon 800 (depending on market)

5-inch IPS 1080p display

2GB of LPDDR3 RAM

13MP Sony Exymor R CMOS camera

2MP front facing

3,050mAh battery

NFC

8.1mm thick profile

aluminum alloy body

The device features a design aesthetic similar to a Nokia, and comes in a variety of color options. It should be noted that screen comes from LG and functions wet or dry, with gloves or not. We’re also pretty excited about the beefy 3,050 mAh battery while somehow maintaining a slim profile.

Pricing & Availability

The Xiaomi Mi-3 will be available in 2 storage configurations come October, with the 16GB priced at $327, and a 64GB version for $408. No word on an international release just yet, but with Hugo officially on board, we hope to learn more in the very near future.

Would anyone jump on the Mi-3 if it was compatible with your network?