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Anyone interested in the latest and greatest smartphones could do worse than checking out the official announcement of the Xiaomi Phone 2 which is due to take place on August 16. The name might not be very familiar to anyone outside of China but the startup's first phone managed to deliver a high-end dual-core device for considerably less than an equivalent device from a more famous company. The Xiaomi Phone 2 promises to continue this legacy.

Not a lot is known for certain at the moment except that it's going have a larger screen than its predecessor and will be packing a 1.5GHz quad-core processor. This won't be just any quad-core processor though and the Xiaomi Phone 2 is set to be the first handset that's packing Qualcomm's APQ8064 chip.

If leaked images are real then the new handset is going to be a stylish one that's available in a range of funky colours, something which has proved popular with Nokia's Lumia devices. The Xiaomi Phone 2 is rumoured to cost around $300, which is roughly what its predecessor cost, which would make it one of the most affordable quad-core phones out there.

The original Xiaomi Phone, known as the Mi-One, has proven a bit of a success in the Chinese market selling 3m units since it went on sale in June. That device featured a dual-core 1.5GHz processor, a 4" display and the company's own MIUI, a heavily modified version of Android.

Unfortunately there's no indication that any version of the Xiaomi Phone is going to make it to the US or any other country outside of China any time soon. However with its promise of a relatively low price tag and decent specs it would certainly make some fans for itself internationally as well.

The launch event takes place in Beijing with tickets being sold to members of the public for ¥199 with all proceeds going to charity. Another reason to like the company is that the phone will come in eco-friendly packaging which can support up to 180kg of weight.

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