The published specifications on Weibo claim a very powerful 4.3-inch offering from Xiaomi for a starting price of just 250 Euros.
http://www.notebookcheck.net/Xiaomi-may-launch-4-3-inch-Mini-Mi-5-with-Snapdragon-820-SoC.167319.0.html
Wow, that would be a real alternative to iphone SE!
I hope this will hold true, I really need compact phone with top specs and xperia compact z5 has too many flaws. With similar pricing to mi5 this will certainly be my next smartphone.