Xiaomi has had a few opportunities to launch its next flagship smartphone, the Mi 5, this year, but the handset has remained elusive so far. The latest rumor is now pointing to a possible December 3rd announcement, while a new Mi Band could be unveiled next week.

According to the tipster, the Xiaomi Mi 5 will be powered by Qualcomm’s latest Snapdragon 820 processor. The chip isn’t expected to appear in devices until 2016 but there’s nothing to stop companies announcing phones before then. The rumor also states that Qualcomm may officially launch its latest mobile chip on November 20th. Qualcomm has gradually been dripping out little pieces of information about its chip over the past couple of months.

Other rumored specifications for the Xiaomi Mi 5 include a 5.3-inch QHD (2560×1440) display, 4GB of RAM, a 16 megapixel rear camera, 3,030mAh battery, and either 16GB or 64GB of internal storage, but without a microSD card slot. A different report also suggests that Xiaomi may opt for MediaTek’s Helio X20 chip, as the Snapdragon 820 may not be available for a while yet.

Moving on, a separate source has suggested that Xiaomi may launch a successor to its Mi Band next week. The new device is said to incorporate a heart sensor this time around and could cost CNY 99 (approximately Rs. 1,050 or USD$16).

We’ll be sure to keep our eyes peeled for additional Mi 5 rumors and details in the coming weeks.