The rumored specifications include a 120Hz IPS LCD display. This also suggests that the device won't have an In-display fingerprint sensor, instead will have a side-mounted one.
For the internals, the device will be powered by the Snapdragon 732G which will make it the only device in the Mi 11 lineup that won't support 5G connectivity. The device should have 6GB of RAM and 128GB of storage.
For the cameras, the Mi 11 Lite is expected to come with a triple camera setup including a 64MP primary sensor, an 8MP ultra-wide-angle lens, and a 5MP macro lens. For the selfies, it should have 16MP shooter.