Chinese maker Xiaomi has unveiled its new flagship Android smartphone. Dubbed Mi 4, it is described by the company's Global VP Hugo Barra as the "fastest & most gorgeous Mi Phone ever", BetaNews reported.

Mi 4 comes with hardware specifications that are typical of an Android flagship announced in 2014. It packs a 5-inch IPS display with a resolution of 1080 by 1920, and is powered by a quad-core Qualcomm Snapdragon 801 processor.

Mi 4 will reportedly cost roughly $320 for the 16 GB version and $400 for the 64 GB model.

Its display has a color gamut covering 84 percent of the NTSC range. The processor is backed by 3 GB of RAM and a 3,080 mAh battery.

The main, 13 MP camera (a Sony IMX214, for the curious among you) has an unusually-large aperture of f/1.8, offers real-time HDR, and can record video in 4K. The secondary camera has the same aperture, but has only an 8 MP sensor, albeit with a wide-angle lens on top that can cover 80 degrees (a Sony IMX219 unit).

There is no word yet on the date of launch or the version of Android Mi 4 runs.