Mi Philippines has announced that it will be selling the Redmi 2 in the country and has already revealed its price.

Xiaomi Redmi 2 specs:
4.7-inch 1280 x 720 Sharp / AUO IPS display, 312ppi
AGC Dragontrail Glass
1.2GHz 64-bit Qualcomm Snapdragon 410 quad-core CPU
1GB LPDDR3 RAM
8GB internal storage
up to 32GB via microSD
8MP BSI rear camera, Omnivision sensor, F2.2 aperture
2MP front camera
Dual-SIM, Dual-LTE
4G LTE, 3G HSPA+
WiFi 802.11 b/g/n
Bluetooth 4.0
USB OTG
GPS, A-GPS, GLONASS
2,200mAh battery
Android 4.4 KitKat w/ MIUI 6
134 x 67.2 x 9.4mm
133g
White, Dark Grey
The Xiaomi Redmi 2 is priced at Php5,999. Sale date is TBA.
source: Mi PH

Xiaomi is no longer the lone, cheap, good quality smartphone in the market. This time it has to contend not only with local brands but well known international brands as well. Notably, Meizu and Alcatel. Alcatel Flash Plus beats the Redmi2 in all areas from display size, memory to battery, for a mere extra 1k in price.
I love Xiaomi. I’m a happy owner of Redmi 1S and if given a choice now, I’d still go for the Redmi 2 for 2 reasons. The 4.7 size is to me the sweet spot of smartpnone not too small not too big. Secondly, it’s a Qualcomm inside. But I do find the selling tactic of Xiaomi irritating.
I don’t know if people will still put up with it considering the changing circumstances. Xiaomi must find a better way to make its internet-centric selling more enjoyable. Pressure tactics won’t work this time, it will only turn off many and they have other brands to go now.