The Huawei Ascend Y550 is a 4.5-inch phone packing Android KitKat software, 4G LTE for fast data speeds and a rock-bottom price tag.
Huawei hasn't officially said how much the phone will cost but said that it won't cost "any more than £99", which converts to about $165 or AU$175. We'll find out more specific pricing, and where you'll be able to buy it, when it goes on sale later this year.
To keep the price down, Huawei has not wasted much cash on the design. What you get then is this rather plain, grey plastic affair.
It has a 4.5-inch display with a blocky 854x480-pixel resolution.
The display isn't particularly crisp, but it's bright enough for smartphone basics like Twitter and Facebook.
There's a 5-megapixel camera on the back and a 2-megapixel camera on the front.
It's not the slimmest or most luxurious of devices, it must be said.
The back panel is removable, providing access to the SIM card and microSD card slots.