As promised before, Xiaomi has unveiled one of the two devices. The first announced device is the Xiaomi Mi Note, a 5.7-inch phablet that will compete against the Apple iPhone 6 Plus. The phablet will go on sale from January 27 for RMB 2,299 ($370) for the 16 GB variant.

Xiaomi Mi Note features a 5.7-inch display with 1080p resolution that was manufactured by Sharp with Gorilla Glass 3 protection glass on both sides, 2.5D curved glass on the front and 3D curved glass at the back. The display comes with a 3.0 mm thin bezels.Under the hood, the phablet sports a quad-core Snapdragon 801, 3 GB of RAM, 16 GB of storage and a 3,000 mAh battery.

In terms of imaging, it comes with a 13-megapixel rear camera with OIS support and a 4-megapixel front-facing camera, identical to the HTC One UltraPixel camera. It supports dual-SIM (microSIM and nana-SIM), dual 4G connectivity and will come with new MIUI 6 software.