Sony has officially unveiled its new Xperia Z1 Compact, a waterproof pocket powerhouse with high-end specs and features set to launch next month.

The current trend seems to involve companies launching a high-end flagship, followed by Maxi and Mini spin-offs to address all segments of the market. With Mini handsets, however, the problem is that they usually sacrifice specs in favor of a more compact form factor and a more affordable price tag.

In the case of the new Sony Xperia Z1 Compact, however, the smartphone keeps the high-end specifications of the Xperia Z1 flagship, but packs it all in a smaller handset with a 4.3-inch display.

"The Xperia Z1 Compact is everything you expect in a premium smartphone, beautifully crafted to fit perfectly in the palm of your hand," boasts Sony. "Capture stunningly beautiful photos and videos using the same technology as featured in our compact digital cameras. Easily move all your valuable content from your smartphone to your new Xperia Z1 Compact with Xperia Transfer. Best of all, the Xperia Z1 Compact is waterproof and comes in a range of colors."

Indeed, the Xperia Z1 Compact keeps the highly-praised features of the Xperia Z1 flagship, including the powerful quad-core processor clocked at 2.2GHz and the 20.7-megapixel camera with Sony Exmor RS technology.

The smartphone sports a 4.3-inch TRILUMINOS display with X-Reality picture engine, a resolution of 1920 x 720, and a pixel density of 342 pixels per inch (ppi). Under the hood, the Xperia Z1 Compact packs a Qualcomm Snapdragon 800 CPU, Adreno 330 graphics, and 2GB of RAM. On the software side, the handset ships with Android 4.3 Jelly Bean, but it set to receive an update to the latest Android 4.4 KitKat shortly after launch.

The high-end 20.7 megapixel rear camera features Exmor RS sensor, G Lens, intelligent BIONZ for mobile processing, auto focus, optical image stabilization (OIS), and LED flash. On the front, the smartphone features a 2-megapixel camera for video chats or self shots. Both cameras can shoot 1080p video.

The new Sony Xperia Z1 Compact further comes with 16GB of internal storage capacity, a microSD card slot for additional memory of up to 64GB, and a 2,300 mAh non-removable battery. Wireless connectivity options include Wi-Fi 802.11 a/b/g/n/ac, Bluetooth 4.0 LE, GPS, and NFC. Just like Sony's other recent smartphones, the Xperia Z1 Compact is waterproof.

Sony has yet to announce an exact launch date or pricing details for its Xperia Z1 Compact, but the company did reveal that the smartphone will ship in February and will be available in five color options: white, black, pink, lime, and yellow.