Sony released its Xperia Z5 smartphone in November 2015, which is said to stand a tough competition when Xiaomi releases its much touted Xiaomi Mi 5 smartphone in Feb. 24.

Though the official specification of Xiaomi Mi 5 is not out yet, speculations and leaks lay out a picture of what the new phone will look like. It is said that Xiaomi has stuck to its pattern of offering world class features at a reasonable price, International Business Times reported.

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Xiaomi Mi 5 is likely to be released in two variants. A cheaper variant, which is speculated to be priced at 1,999 Chinese Yuan (approximately Rs. 20,630 according to current exchange rates), while the price for another model may be around 2,499 Chinese Yuan (approximately Rs. 25,790 according to current exchange rates).Official price of Xperia Z5, on the other hand, is 6,356 Chinese Yuan in China and Rs.66,000 in India.

Official specs for Xperia Z5 includes 5.2 inch screen with a resolution of 1080 x 1920 pixels. It works on Android v5 1.1 with a 2GB of Random Access Memory, 2900 mAH battery and Qualcomm Snapdragon 810 processor. It is also equipped with 32 GB of internal storage, a 23 MP rear camera and a 5MP front camera.

Meanwhile, Xiaomi Mi 5 is rumored to offer a better 5.3 inch screen with a resolution of 1440 x 2560 and a pixel density that translates to 554 ppi. The new Mi 5 smartphone, according to Christian Post, shall feature a Snapdragon 820 chipset, to work on Android Marshmallow and will sport a Qualcomm fingerprint sensor. The said device is rumored to have a 16 MP rear camera and an 8 MP front camera. Off the two Mi 5 models, one shall have a 3GB RAM with 16 GB inbuilt storage and the other shall run on a 4GB RAM with 64 GB inbuilt storage.

International Business Times reported that both phones shall support a fingerprint scanner and offer fast charging options.