Xiaomi is reportedly planning to launch its next-generation Mi5 flagship smartphone at the Consumer Electronics Show (CES) 2015, packed with top-notch specs and features all around.

CES 2015 will take place as soon as next month in Las Vegas, and it seems that a brand new Xiaomi Mi5 is ready to debut at the show. Moreover, the company also plans to enter the U.S. market with its 2015 flagship smartphone.

So far, Xiaomi has enjoyed great success in China, India, and other Asian markets, but it has yet to penetrate the U.S. market. Rumors of an expansion to the U.S. have been making rounds for quite some time, but so far nothing has materialized in this regards. Nevertheless, the rumor mill keeps churning and this purported expansion now seems closer than ever.

Xiaomi is already the world's third biggest smartphone manufacturer, trailing only Apple and Samsung, and a U.S. expansion would significantly bolster its position and help it grow even further.

According to a new report (translated) from MyDrivers (via Oizoioi), industry analyst Sun Changxu expects the upcoming Xiaomi Mi5 to be one of the first handsets to rock the octa-core Qualcomm Snapdragon 810 processor paired with Adreno 430 graphics. The Xiaomi Mi5 is further expected to boast a massive 5.7-inch QHD (2K) display with a resolution of 2560 x 1440 pixels, a 20.7-megapixel rear camera (likely the same Sony Exmor sensor found in the Meizu MX4), and a fingerprint scanner for extra security. 

Based on rumors and reports so far, the company will likely launch the Xiaomi Mi5 at a price point of 1999 Yuan (about $326) off-contract in the U.S., which would make it one of the most affordable top-notch flagships on the market.

So far, Xiaomi has broken record after record in terms of sales, with its devices vanishing off store shelves in no time due to their good specifications and affordable price point. If the company does indeed retain the same aggressive pricing strategy for the U.S. market as well, the Xiaomi Mi5 may be one of the hottest and best-selling devices of 2015.

It's all in the rumor state for now, however, so take this report with a grain of salt. CES 2015 is just around the corner and we'll get the official scoop straight from the source soon enough, so stay tuned.