Xiaomi may be gearing up for the launch of the Mi 5 in an upcoming event on Oct. 19.

The company reportedly posted an invitation on the event where it has also indicated the date. While no other details are added, a lot of speculations are saying that the company may just announce the Mi 5 on the said event.

The press event, which showed the words "Next Generation of New Conference" in Chinese characters, is also expected to be the time when the company would be launching other products such as the Mi Note 2.

The same invite can also be viewed in Weibo, the popular social network site in China.

It's been a while since the company has announced the Mi 4 which could explain why fans had been anticipating for the launch of its successor. Speculations about the Mi 5 announcement had been growing intensely so far which could indicate just how much the fans are closely watching on the world's fifth-largest phone making company.

According to earlier reports, the Xiaomi Mi 5 will purportedly feature a Quad HD display of 5 to 5.3 inches and will be sporting a metal chassis. It will also come with a RAM of 4 GB, a rear camera of 16 MP, Android 5.0 Lollipop-based MIUI, built-in NFC and a fingerprint sensor.

There will be two variants available for the Mi 5. The first one will be equipped with a 64-bit Qualcomm Snapdragon 820 while the second will be built with a MediaTek Helio X20.

Xiaomi said that while the Mi 5 will initially come with Android Lollipop, it will be ready to be upgraded with Android 6.0 Marshmallow as soon as it launches formally.

A previous report at Tech Times also stated that the Mi 5 will feature a front camera of 8 MP and that it bagged a score of 73,075 on AnTuTu. Analysts are also saying that the device will release in December in time for holiday shopping.

Xiaomi's official site for the Mi 5 suggests that the device is launching together with the Mi 5 Plus. It also showed which countries the device will soon become available along with the speculated retail price. According to the site, the Xiaomi Mi 5 and Mi 5 Plus will launch in China (1850 Yuan), U.S. ($350), U.K. (£250), Russia (15000 Ruble), India (21,000 Rs), Hong Kong (2400 HKD), Indonesia (3587000 Rupiah), Singapore (430 Singapore Dollar) and Malaysia (1100 Ringgit).