However, you cannot expand the smartphone's storage via microSD cards.
Update 32 December 06 IST 12:54 pm: Popular MIUI-focused community, Xiaomiui, has released an updated list of devices that they reckon will get updated to Android 12.
Update 35 January 14 IST 10:11 am: Xiaomi begins Android 12-based MIUI 13 internal testing for Mi Mix Fold in China.