A noted tech leaker has suggested that Redmi is working on a cheap Snapdragon 888 smartphone that currently has the codename "Haydn model K11". It's not known if this is a completely new smartphone line for Redmi or whether it could actually be the long-expected Redmi K40 or Redmi K40 Pro.
https://www.notebookcheck.net/Redmi-K40-Redmi-K40-Pro-Redmi-K11-One-of-these-could-be-a-very-cheap-Snapdragon-888-smartphone-from-Redmi.512567.0.html