On Fifth Anniversary Xiaomi is launching a mid-range smartphone under the 'Ferrari' codename

It looks like Xiaomi is working on a mid-range smartphone under the 'Ferrari' codename. 

The handset has appeared on the website of graphics benchmarking tool GFXBench. The phone's hardware specifications, which leaked through the website, includes a 1.6GHz Qualcomm Snapdragon 615 octa-core processor, Adreno 405 GPU, 2GB of RAM and 16GB internal storage. 

The 'Ferrari' phone sports a 4.9-inch full-HD(1920x1080p) display, a 12MP rear camera and a 5MP front-facing camera. The device runs Android 5.0 Lollipop. 

Interestingly, Xiaomi is celebrating its fifth birthday on March 31 and is hosting a special event in China on the occasion. According to a new post on Xiaomi's MIUI forums, Lei Jun, CEO of Xiaomi, will address tech media and launch new Mi product(s) on at the event. It's likely that the company will unveil the 'Ferrari' phone on the same day along with other mystery products. 

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