The phone is less than a month old, but it already seems to be generating buzz among some tech bloggers that managed to get their hands on it.
The Mi4 comes with hardware that's impressive enough to go head-to-head with the likes of Apple and Samsung. It's got a full HD 1080p 5-inch screen and a powerful processor on the inside.
Xiaomi's phones are only available in China and a few other emerging markets, but the company's brand is already incredibly popular in that region. In fact, recent statistics from Canalys show that Xiaomi is a bigger player in China's smartphone market than both Samsung and Apple.
So it's no surprise that early impressions of the Mi4 seem to be generally positive. Tech blog PocketNow recently compared the Mi4 to LG's G3, which also launched earlier this summer. During the comparison, the Mi4 earned points for its elegant, premium design that echoes that of Apple's iPhone.
In the video, PocketNow's Taylor Martin calls the Mi4's build quality "astounding," and also praised the phone's screen for its vibrant colors and extremely slim side bezels.
Xiaomi uses plastic for the phone's rear shell, but its polished aluminum edges make it look premium. The general design language is very similar to the iPhone — there's no physical home button below the screen, but the phone's shape and speaker placement resemble that of Apple's smartphone.
Another tech blog, Mobile Geeks, called the Mi4's screen one of the best it's seen, and also praised the touchscreen for its responsiveness.
There aren't many reviews out there yet since the phone is only available in limited markets, but critics seem to be impressed with the phone so far.
Be sure to check out the videos from PocketNow and Mobile Geeks below.