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(Pocket-lint) - Sony Mobile has announced a new flagship smartphone, the Sony Xperia 5.

There's a lot about this smartphone that might sound familiar - it has a 21:9 display, is powered by the latest Qualcomm Snapdragon 855 hardware and has a triple camera on the back - just like the Xperia 1.

Well the big difference is the size. The display drops down to 6.1-inches and in doing so drops the 4K resolution and returns to Full HD+ instead, while overall giving you a smaller and more manageable phone. It's basically the Xperia 1 Compact.

What you'll get is a fully-fledged premium Sony smartphone experience with that great wide display that's lovely for watching movies, but in a frame that's not so tall. You still get the waterproofing and a design that, we think, looks pretty good with Gorilla Glass 6 front and back.

The camera on the rear of the Xperia 5 has three 12-megapixel cameras with regular, ultra-wide and telephoto offerings, along with some really powerful video capture options.

There's going to be loads of power from that core hardware, but the battery dips to 3140mAh which sounds like it might be a little on the small side considering how much display there is here. 

You'll get support for HDR from that display as well as Dolby Atmos sound and that's where this phone is likely to be at its best. The Xperia 1 was a great phone for watching movies on and we'll expect much the same from this new device.

The Sony Xperia 5 will be available from 4 October, but it will be going on pre-order on 18 September - and for those in the UK you can get a free pair of the excellent WF-1000XM3 headphones if you do. 

Rumours had said that Sony might launch a new Compact phone - and while it's not exactly small, it's certainly a more compact than the massive Xperia 1.

Writing by Chris Hall.