The Mi 4 follows Xiaomi’s tradition of offering solid high-end hardware at rock bottom prices.

Xiaomi Mi 4 Xiaomi Mi 4 unveiled: Snapdragon 801, 13MP camera, $320 price tag

Xiaomi unveiled its latest flagship, the Mi 4, at an event in China today.

The Mi 3 was a roaring success for Xiaomi, a company that is often touted as the “Apple of China”, and the Mi 4 has all the ingredients to be another hit. The Mi 4 comes with a stainless steel frame for “iPhone-like build quality,” while keeping a plastic back that will allow users to customize it to their liking, with wooden, fabric, and leather back covers available as accessories.

In terms of hardware, the Mi 4 is quite similar to flagships like the Samsung Galaxy S5 and HTC One M8. It has a 5-inch 1080p (1920×1080) display, a quad-core 2.5 GHz Snapdragon 801 processor, 3GB of RAM, a 13-megapixel rear camera with features such as real-time HDR and 4K video recording, LTE connectivity, and 16/64 GB of internal storage.

There’s a monstrous 8-megapixel front-facing cameras, and the 3,080 mAh battery is touted for a day and a half of general usage. As expected, the Mi 4 runs MIUI (version 5, based on Android 4.4.2 KitKat), Xiaomi’s forked version of Android that sports a brighter, more customizable UX, with regular updates that incorporate features and changes requested by users on the company’s forums.

The Mi 4 will go on sale in China from July 29th – a million units will be put up for sale in the first couple of months, though chances of the device making it to other markets are slim. As far as pricing is concerned, the 16 GB version of the Mi 4 will cost 1,999 RMB ($322), while the 64 GB version will retail for 2,499 RMB ($402).