The Xiaomi Redmi Note 2 comes with a 5.5-inch 1080 x 1920-pixel LCD display, a 64-bit MediaTek Helio X10 MT6795 system chip, 2GB of RAM, and 32 gigs of internal storage. The handset runs on Android 5.0 Lollipop with the MIUI 7 user interface, and feature a 3060 mAh battery. Surprisingly, the device carries a starting price of RMB$799.

MediaTek is accounted for more than 60 percent of the IC designer’s total sales.

Meanwhile, in a saturated 3G market, global smartphone needs have shown signs of declining, although the momentum of the world’s 4G market has come to nothing to pick up, market analysts added.

Facing unfavorable circumstances, MediaTek suffered a 40 percent year-on-year decline in net profit in the first half of this year in the wake of a decline in smartphone chip shipments.