It is probable but not sure. Redmi Note 4 was released few days ago and we was sure that Redmi 4 will come with it or time gap between them will be short.
So what we can expect from Mido?
System: Android 6.0.1.;
SoC: Snapdragon 625;
RAM: 2GB;
So it's all we know from GeekBench if it really is Redmi 4 we heared about:
- 16GB of build-in storage;
- stronger version with 3GB + 32GB.
Source: gizmochina
There will be no Android 7 update for devices with Snapdragon 800/801