Xiaomi unveils 'faster, better' Redmi 2

The new Redmi features an 8 MP rear cam, improved 2 MP front cam, 1GB RAM and 8GB on-device storage

Xiaomi which clocked 60 million sales in 2014 has reportedly unveiled its newest entry-level phone, the Redmi 2.

The new device shares most of the features with the original model like, the 4.7-inch screen and the 1280 x 720 display however, it also sports a few welcomed changes from its antecedent including, a 64-bit Qualcomm 410 quad-core processor and a dual 4G SIM support too, reported Tech Crunch.

The new Redmi features an 8 megapixel rear camera, improved 2 megapixel front camera, 1GB RAM and 8GB on-device storage. It runs on Xiaomi's own MIUI version of Android and provides a few more options to its color-loving customers like, "lime green" and "powder yellow."

The phone will be priced at 699 CNY, which is around $112 and will hit stores on January 9. However, there's no word on when it will be released outside of China but it will make its way to India, Indonesia and Xiaomi's other overseas markets soon. he company's flagship Mi devices although garner all the attention but the Redmi family, priced below 150 dollars, is its biggest seller. Xiaomi revealed that it had sold 18 million Redmi smartphones 3.56 million Redmi Note phablets in July last year. The Redmi devices alone accounted for one-third of total sales at the time.

CEO Lei Jun confirmed Xiaomi's plans to expand sales into more countries and added that the company had just raised 1.1 billion dollars to spread its business. Turkey, Mexico, Russia and Southeast Asia are thought to be in its plans, the report said.