Xiaomi announced a number of new additions to its product lineup on Tuesday, but the flagship Mi 5 smartphone many of us were waiting for was not one of them. Fans will have to hold onto their cash for a little longer, then, but Xiaomi CEO Lei Jun promises it’s “worth waiting for.”

Xiaomi’s Mi 4 handset is well over a year old now, having made its debut last August, so it seemed highly likely that the new Mi 5 would make an appearance at Xiaomi’s November 24 event. However, it’s thought Xiaomi has made a conscious decision to delay the device.

The reason for that is the processor; instead of adopting Qualcomm’s existing Snapdragon 810 — which has been plagued by heat issues — it’s thought Xiaomi is happy to wait for the new Snapdragon 820 instead, which is both faster and cooler than its predecessor.

Whatever the case may be, Xiaomi CEO Lei Jun insists the Mi 5 will be “worth waiting for.” It’s still unclear when the device will make its debut, but if you spend your cash on something else in the meantime, you may live to regret it.

You won’t have to wait this long for another Xiaomi device. Lei added that Xiaomi is planning to change its product release cycle and launch future smartphones at shorter intervals. Again, Lei offered no specifics, but it looks like yearly releases will be no more.

Lei also revealed that Xiaomi’s focus remains on China and other emerging markets for now — including Brazil, India, and Indonesia — and that “it will take some time” before it ventures into new markets like the U.S. and Japan.