With the launch of Apple iPhone SE, companies are working hard to release a competitor phone. Xiaomi is allegedly already working on a handset that comes with a 4.3-inch display, but has powerful hardware under the hood and will be priced at RMB 1,799 or around $270.

The heart of the phone is going to be Qualcomm's high-end chipset, the Snapdragon 820. It will be paired with 3 GB of RAM and 32 GB of storage. The rest of the specs include a 13-megapixel rear camera, HD display and a fingerprint scanner. The expected release date is sometime in June.