Xiaomi just revealed its flagship Mi 5 smartphone and amazed everyone at the Mobile World Congress with its affordability. There are three versions of the phone, which is geared towards the Chinese market, and will start at just $306 (CNY 2000). For that price, you get Snapdragon 820 chipset, 3GB of RAM and 32GB of internal storage. If you want 64GB of internal storage, the price goes up to $352 (CNY 2300). Finally, the Xiaomi Mi 5 Pro with ceramic back will have 4GB of RAM and 128GB of storage for the price of $413 (CNY 2700). Pre-orders for the Xiaomi Mi 5 are currently open in China and the release date for the device is March 1. Currently, there's no official information whether the company will sell the device outside China.