Xiaomi unveiled its highly-anticipated Mi Note 2 smartphone at an event in Beijing on Tuesday. Xiaomi also showed off a "concept" phone, the Xiaomi Mi MIX, which sports an almost bezel-less display.

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Xiaomi announced that the phone will be available for purchase from November 4. It would be available first in China and then in other countries like the US from a later date, with an opening price tag of $520.

The phone has a mesmerizing 6.4-inch, edge-to-edge 1080p LCD with a 91.3 percent screen-to-body ratio.  As suggested by the price, the phone will come with premium specifications and is being marketed as the company's flagship phone of the year along with the Mi Note 2.

The phone also features a full ceramic as well as a glass body and buttons. To make the display more spacious, the front and top edge of the Mi MIX are without the earpiece and proximity sensors.  

To replace these functions, Xiaomi used a first-of-its-kind-technology. The company made use of a cantilevered piezoelectric actuator behind the glass to produce audible sound for phone calls. For proximity sensing, the phone uses ultrasound.

Other high end specs of this Android phone include a Qualcomm Snapdragon 821 chipset clocked at 2.35GHz, along with either 4GB or 6GB of LPDDR4 RAM, 128GB or 256GB of UFS 2.0 storage, a massive 4,400mAh battery with Quick Charge 3.0 support, a fingerprint reader, NFC, HD audio playback, a 16-megapixel main camera and a tiny custom-made 5-megapixel selfie camera.

The module for the selfie camera has been halved in comparison to other conventional phones on the market. The 4GB/128GB version is the entry model at $520. There is also a top-end model, which will sport 18-karat gold rims around the main camera and fingerprint reader. This model will be available for $590.