Xiaomi Inc. is set to introduce powerful smartphones they call Mi 5 and Mi 5 Plus, both of which are rumored to be running on a Snapdragon chipset with extensive random access memory.

The company's new flagship devices have been subject to numerous rumors for the past few months prior to its launch.

With all that is said and done, the Beijing-based company has a couple of hours more before they reveal their new devices during this year's Mobile World Congress in Barcelona.

During the event, which the company dubs as a "Global Launch Event," the Chinese-owned company is expected to unveil their most awesome phones yet.

In fact, the Xiaomi retailer is so excited that they skipped a couple hours of waiting and unveiled almost everything about the Mi 5 and Mi 5 Plus.

Both of Xiaomi's upcoming devices will be powered by a Snapdragon 820 chipset matched with 4 GB worth of RAM.

Both will have a front 8-megapixel 'selfie' snapper and a 16-megapixel rear camera with a dual-LED flash for better image quality even in low light environments.

The Mi 5 will come with a smaller body and a 5.2-inch IPS display while the Mi 5 Plus is set to amaze with its larger 5.7-inch IPS LCD capacitive touchscreen.

Mi 5 will have a 3030 mAh non-removable battery while Mi 5 Plus will sport a much larger battery unit and capacity at 3500 mAh as expected based on its size.

Another difference between the two is the internal memory variant: Mi 5 will be available in 16GB and 64GB while the Mi 5 Plus only has the latter.

Since the devices already have massive internal memory options, both the Mi 5 and Mi 5 Plus will not have memory expansion support.

The tag price for the Mi 5 and Mi 5 Plus per Xiaomi Device is $499.99 and $599.99, respectively.

Currently, however, the retailer appears to have removed the untimely revelation originally posted with this link.

Though the company is relatively new in the market, Xiaomi proved to be a worthy adversary to leading mobile manufacturing companies because of its low pricing.

What is more intriguing about the Chinese mobile manufacturer, founded by Lei Jun, is that it is able to maintain quality products despite its very low prices.

However, Xiaomi suffered a blow after failing to meet sales goals, receiving more pressure from investors.