Update, January 18: GizmoChina is reporting that Li Wanqiang has now confirmed the Xiamo Mi 5 will be available one week after its launch date. Based on the recently leaked Xiaomi Mi 5 launch, this means the Xiaomi Mi 5 release date will be around February 27.

Original post: The rumors have pointed toward an early 2016 launch for the Xiaomi Mi 5 for a while, but this has now been confirmed by one of Xiaomi’s co-founders, Li Wanqiang, on Chinese microblogging site Weibo. The Xiaomi Mi 5 is currently in mass production for a launch following Chinese New Year on February 8.

We also now know for sure that the Mi 5 will be powered by the Snapdragon 820 . So far all reports of the Snapdragon 820 have it being a huge improvement over the problematic Snapdragon 810 , which crippled several of 2015’s major flagships. The Mi 5 will pack 4 GB of RAM and have 32 GB and 64 GB models.[related_videos align=”left” type=”custom” videos=”664712,621025″]

Other rumors about the Mi 5 include full metal construction, fingerprint scanner, QHD display, a 16 MP primary camera and massive 8 MP front-facing camera along with a huge 3,600 mAh battery featuring Qualcomm’s Quick Charge 3.0 standard.

Interestingly, the Mi 5 is rumored to have a 5.2-inch display, cramming in a huge 565 ppi. Previously leaked price details have the device at the equivalent of $310 and $390 US dollars, but these prices are not yet confirmed.

Do you think the Mi 5 will become the next “fastest phone in the world”? Would you buy the Mi 5 if if came to the States?