In what looks like a leaked product roadmap, Xiaomi is apparently keeping tabs on Huawei's release schedule and timing its own phones accordingly.
Xiaomi's releasing a Mi 4S in June with a 5-inch screen with 1080p resoultion, 13MP camera and a Qualcomm Snapdragon 810. It will be followed by the Redmi Note 2, slightly bigger with a 5.5-inch display and a similar camera.
But one phablet isn't enough! There will also be the Redmi Note 2 Pro that has a 5-inch 1080p display (funny, we thought it'd be bigger) with a Snapdragon 410 chipset and then finally the Mi 5 in November, with a 5.2-inch Snapdragon 820. The latter's camera will be 20.2MP instead.
China will see all these new models (if they're real) first of course, so don't hold hope they'll appear too soon. But hey, in the meantime, there's always Huawei phones to consider.