Looks like Xiaomi is working on a new handset, as recently a smartphone with codename riva was spotted on Benchmarking Platform Geekbench. According to the results of Geekbench it seems like the device will be a budget friendly smartphone with basic specifications.
Xiaomi riva will be powered by a 1.4Ghz quad-core Qualcomm processor which could be either Snapdragon 425, Snapdragon 427 or Snapdragon 415. Smartphone will also pack 3GB of RAM and will running on Android 7.1.2 Nougat OS out of the box MIUI skin on top. This will be the first device from Xiaomi which will be having the latest update of Nougat which could mean other devices could be updated soon.
The device scores 560 on single core and on multi core test it scores 960. At the moment no other specification about the device is known. Xiaomi is expected to launch some devices later this year, so this handset could be in that lineup.