People who are waiting for the Xiaomi Mi5, which is rumored to be announced on January 15th, may be disappointed by this new report. According to the same, Xiaomi would be announcing the Redmi Note 2, and not the Mi5, on their upcoming press event scheduled for Thursday.

The Redmi 2 Note will be a high-end phablet. Its alleged specs include a 5.7-inch 1080p display, 64-bit Snapdragon 615 chipset, 2 GB of RAM, 13 MP rear and 5 MP front-cameras, a 3,600 mAh battery, and Android 4.4 KitKat with MIUI 6. Going with the listing on Oppomart, the Redmi Note 2 would cost $249 for international buyers.