Xiaomi CEO Lei Jun joined Qualcomm's executive vice president Cristiano Amon at the Snapdragon Tech Summit in Hawaii to announce that the Mi 7 will be powered by the Snapdragon 845. Calling Qualcomm Xiaomi's "most important partner," Jun talked about the collaboration between the two companies, which stretches back all the way to the Snapdragon S3-powered Mi 1 from 2011.

Xiaomi Mi 6

Rumors from earlier this year suggested the Mi 7 would be one of the first phones to be powered by the Snapdragon 845. We don't know a lot about Xiaomi's upcoming flagship, but it is expected to feature a 6.0-inch Samsung-made display with thin bezels, and be available with 6GB and 8GB of RAM. Xiaomi is likely to unveil the device at Mobile World Congress.

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As for the Snapdragon 845, all we know for now is that the chipset will be manufactured by Samsung Foundry, like this year's Snapdragon 835. With the week-long conference just kicking off, we should have more details on the Qualcomm's next-gen chipset in the coming days, so stay tuned.