Information on the existence of the Xiaomi 12 Ultra has been conflicting. Reports a few weeks indicated that the Xiaomi 12 Ultra had been scrapped in favor of the Mix 5 Pro but it appears that an "Ultra" phone is coming after all, but just not with the "Xiaomi 12 Ultra" branding.
Instead of being coded "L1"—which the Mix 5 Pro now bears—the line-leading Xiaomi 12 series device looks to be coded as "L2s", and will sit above the Xiaomi 12 Pro in the company's hierarchy. It could be branded as the Xiaomi 12U. Word from Chinese leaker also indicates that such a device will, at the very least, have better cameras than the Xiaomi Mix 5.
Digital Chat Station also claims that the phone will be powered by the SM8475. The SM8475 is currently unreleased but Qualcomm's internal code history indicate that this could be the Snapdragon 8 Gen 1 Plus. The upcoming Motorola "Frontier 22" is another device expected to get this chipset. Supposedly, the SM8475 will trade Samsung's 4 nm node as used on the regular Snapdragon 8 Gen 1, for TSMC's node.
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