It's unlikely that the Mi Note will make it outside of Xiaomi's established Asian markets like China and India; the company is yet to dip its toe into the waters of countries with robust patent laws. But it appears to be a robust device that will be more than capable to serve at the center of Xiaomi's ecosystem; far from being a simple phone maker, it has expanded into connected home electronics like TVs, light bulbs, and air purifiers as well.
The Mi Note will cost 2,299 yuan (about $370), with a "Pro" model adding 4GB of RAM, a Snapdragon 810 processor, and a 1440p display for 3,299 yuan (about $520). Both these price points are expensive for a Xiaomi phone, but continue the theme of offering well-specced products at lower prices than the likes of Apple, or Samsung's own Galaxy Note series of phablets. The latter in particular may have cause for concern.