Xiaomi is rumored to announce a new smartphone in the upcoming days, probably on March 31 and it could go on sale as early as April 8. The handset will cost CNY 499 or just 75. The specs of the device also leaked - it will pack with a 4.7" 720p display and will run on Leadcore LC1860 chip with a quad-core 1.6GHz Cortex-A7 processor, Mali-T628MP2 GPU and 1GB of RAM. The rest of the rumored specs include an 8MP rear and a 2MP front snappers, 8 gigs of expandable storage. Android 4.4 KitKat with MIUI will be in charge of operations. The Leadcore LC1860 chip comes with a built-in LTE modem, but we are not sure the entry-level Xiaomi phone will be LTE-enabled. Xiaomi is expected to unveil a new device(or devices) tomorrow, March 31 and we'll see if this one makes the cut. Source...
Source: http://www.gsmarena.com/entrylevel_xiaomi_smartphone_to_launch_on_april_8-news-11725.php