The Xiaomi Mi5 is positioning itself as the cheaper, and worthy, alternative to iPhone SE as it the release date for India was just announced with a price of Rs 24,999 or about $375 while the iPhone SE, with lesser specs than the Chinese brand, starts at a shade under $400.

When the phone was launched in China, there were two variants, the Prime which carries a 3GB of RAM and 64 GB of storage, while the Pro version has a 4GB of RAM and 128 GB of storage

The specs of Xiaomi Mi 5 include 1080p full HD and pixel density of 428ppi on a 5.15-inch front panel display. At its heart is a Qualcomm Snapdragon 820 processor mated to Adreno 530 GPU, according to multiple news reports.

NDTV reported the others specs for the Xiaomi Mi 5.

"It sports a 16-megapixel Sony IMX298 camera sensor with PDAF (phase detection autofocus) and LED flash," the news article said. "The rear camera also sports 4-axis OIS (optical image stabilization) and sapphire glass protection lens. The smartphone supports 4K video recording. It also sports a 4-UltraPixel front camera, with 2-micron pixels. Both cameras feature an f/2.0 aperture."

Here are the reported release dates for Xiaomi Mi 5 per country, according to the news from Xiami Fan Blog. 

In China - February 24, 2016

In Singapore, Malaysia, Indonesia, India - February 26, 2016

In US, Thailand, UK and Germany - February 28, 2016

In Spain - March 8

If the release dates are not announced in your country, you can import Xiaomi Mi 5 on Chinese websites like GearBest.com, Geekbuying.com, Collicool.com and a host of other trading sites, although PC Advisor cautioned about buying from the gray market.