Xiaomi didn't mention it during the Mi 11 launch event, but there's cheaper Mi 11 Lite coming
But, as it appears, there's also a cheaper alternative in the works that didn't make it in yesterday's launch event presentation. According to earlier Gizmochina rumors and now the Bluetooth SIG website (via Android Authority) the Xiaomi Mi 11 might be launched alongside a more affordable Xiaomi Mi 11 Lite phone.
The Bluetooth SIG site shows a smartphone with the name "Xiaomi Mi 11 Lite" that has a model number suggesting it to be a phone for the global market, as opposed to one planned for just the Chinese or Indian markets.
In terms of specs, the few things we know is that this phone will have 5G support and is likely to be powered by a weaker Snapdragon processor than the 888, with possibly 6GB of RAM.
As for its software, much like with the Mi 11, we expect the phone to be running MIUI 12 or Xiaomi's just-announced MIUI 12.5 on top of Android 11.