Do take note that there was no mention of “flagship smartphone” specifically by Lei Jun, although “flagship device” was mentioned. Xiaomi seems to be pretty involved in developing new smartphones, with the upcoming Xiaomi Mi5 (rumored to come with a sapphire display) being tipped to be revealed at CES 2015 next year, while the Xiaomi Redmi Note 2 is said to roll out by the end of January next year. Hence, I suppose either one of these could very well be the next flagship device.
Whatever the situation is, all should and will be revealed in due time, and CES 2015 is not too far away – but in the meantime, do enjoy your new year and be patient with what Xiaomi has in store!