• Xiaomi CEO Lei Jun makes a speech during the launch event of Mi 6 smartphone at Beijing University of Technology on April 19, 2017 in Beijing, China.

Xiaomi CEO Lei Jun makes a speech during the launch event of Mi 6 smartphone at Beijing University of Technology on April 19, 2017 in Beijing, China. (Photo : Getty Images)

Xiaomi Inc. has unveiled its flagship phone, the Mi 6, as the company tries to turn the tables after seeing sales fall last year.

Rolled out in Beijing on Wednesday, the Mi 6 runs on a Snapdragon 835 and packs 6GB of RAM. It also joins a slew of smartphones with dual lenses on their rear camera, employing a telephoto lens and a wide-angle lens.

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Xiaomi's flagship phone shoots 12MP stills and supports 2x optical zoom. It is also fitted with dual stereo speakers and powered with a 3,350mAh battery, which can last for a day.

Like its predecessor, the Mi 6 comes with a ceramic version. The standard model has 128GB for $360, while the ceramic edition is at $435.

Xiaomi Mi 6's prices put it in a spot that is poised to challenge flagship phones from the likes of Huawei and Oppo.

According to initial reviews, Xiaomi Mi 6's full specs are closely at par with existing high-end phones. Bearing some similarities with the iPhone 7, the Mi 6 is said to be a cheaper version of Apple's glorified handset. Just like the latest iPhone, it ditches the headphone jack, which was frowned upon when the U.S.-based tech giant did it last year.

"Whether the Chinese company is following the trend, or doing what makes sense for itself in this instance, that is already ammo for Xiaomi skeptics," Tech Crunch wrote.

The success of Mi 6 is crucial for Xiaomi, especially after facing several drawbacks last year. The company fell from the top five smartphone makers list, while rivals Huawei, Oppo and Vivo gained ground.

Earlier this year, Hugo Barra left his job at Xiaomi for a new post in Silicon Valley, prompting many to speculate that the Chinese smartphone maker is in trouble.

The Mi 6 will be for sale starting April 28 in China. Selected markets will follow suit.