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Xiaomi's Redmi 2 is a budget handset that punches above its weight (pictures)

Soon to be available globally -- in markets the Chinese company is currently in -- this affordable sub-$120 smartphone shows just how good low-priced phones can be.

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Aloysius Low
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1 of 10 Aloysius Low/CNET

Xiaomi's Redmi 2 was announced in January, but hasn't yet found its way outside of China.

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2 of 10 Aloysius Low/CNET

The sub-$120 -- 699 yuan or $112, £73, AU$139 to be precise -- smartphone may be cheap, but seems capable of punching above its price point.

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3 of 10 Aloysius Low/CNET

The phone runs MIUI 6, which is based on Android 4.4. Internally the phone runs Qualcomm's 64bit Snapdragon 410 processor that's clocked at 1.2GHz. That's pretty good, since Xiaomi could have used the even lower-end Snapdragon 210 processor instead.

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4 of 10 Aloysius Low/CNET

Sure, it may be clad in plastic, but the 4.7-inch phone feels just right in the hand.

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5 of 10 Aloysius Low/CNET

The sides and rear are matte plastic, which gives its a non-slippery grip.

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6 of 10 Aloysius Low/CNET

On the top you'll find the 3.5mm audio jack. No surprises here.

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7 of 10 Aloysius Low/CNET

The phone isn't the slimmest at 9.4mm, but it's not meant to be.

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8 of 10 Aloysius Low/CNET

The Xiaomi Redmi 2 comes with a rear 8-megapixel camera. Internally, it has 1GB RAM and 8GB of onboard memory. It also includes a microSD card support for up to 32GB of extra storage.

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9 of 10 Aloysius Low/CNET

Here's another look at the camera.

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10 of 10 Aloysius Low/CNET

The phone comes with a 2,200mAh battery and support for dual-SIM LTE. If you need a cheap travel phone, this could just be the thing.

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