Xiaomi's next big reveal is coming on July 27

Chinese electronics giant Xiaomi has something up its sleeve, and it's likely a new budget Redmi phone, if the rumor mill is to be believed.

The company will on Monday start selling tickets to a July 27 press conference in Beijing for about 199 yuan (roughly $30, £20 and AU$40 respectively).Unlike press conferences in other parts of the world, which are attended mostly by journalists, press events in China are usually an opportunity for fans of the brand to show support for the company.

Xiaomi press conferences also provide fans with an opportunity to score some swag and secure the purchase of a new product through special codes given out at the event for the company's online store. This is particularly helpful, as the brand's new products usually sell out quickly in China.

Besides a rumored new Redmi phone, it's possible the company may also announce a new Mi Note phone, as it's been a year since the launch of the previous model. CNET contacted Xiaomi for more information, but haven't yet gotten a response.