Xiaomi Technology will launch a high-end smartphone in the second half of 2016 targeting the CNY4,000-5,000 (US$606-758) segment, according to the company's co-founder Li Wangjiang.

The new model will continue to feature high price/performance ratio as Xiaomi did previously, Li said on weibo.com.

Media reports in China indicated the planned new high-end model is likely to be Xiaomi's next-generation Note 2, featuring double curved displays, a Qualcomm Snapdragon 821 CPU, 12-megapixel main camera with a Sony IMX378 sensor, with 6GB RAM/128GB ROM.

The next-generation Note 2 may also support iris or hidden fingerprint recognition, VoLTE, Hi-Fi 2.0 and NFC technologies, the report added.