As per the GeekBench listing, the Xiaomi Mi 4i is a Android 5.0.2 Lollipop based smartphone.
It is powered by a 64-bit octa-core Snapdragon 615 processor clocked at 1.65GHz.
Also not much is known about the pricing and availability date as the launch is a world premier event.
Update:Xiaomi Mi 4i launched at Global Mi Phone Premiere in India at Rs 12,999
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source: www.techworm.net