It would seem that the previously reported Xiaomi X1 is actually the 5X. It retains the $295 price tag, while having a spontaneous downgrade to a Snapdragon 625 in a move that fans of the OEM won't take kindly to.
https://www.notebookcheck.net/Xiaomi-s-new-device-may-actually-be-the-5X-not-the-X1-as-previously-thought.234812.0.html