YU, a devision of India's Micromax, has launched its fourth and cheapest smartphone, the YU Yunique. The phone is priced at just INR 4,999 ($75), which the company claims makes it the cheapest 4G HD smartphone in the world. The phone will be sold exclusively online through Snapdeal.

The Yunique has a 4.7-inch 720p IPS LCD, Qualcomm Snapdragon 410 processor, 1GB RAM, 8GB storage with microSD support, 8 megapixel rear camera, 2 megapixel front facing camera, and a 2,000mAh battery. The phone comes with stock Android 5.1.1 Lollipop out of the box but users will have the option to install Cyanogen OS 12.1 later.

We had a brief hands-on with the device and in that time we noticed that the phone is quite compact and lightweight but with decent build quality and finish. The display quality was also surprisingly good for the price. Most importantly, the performance was fluid and the phone exhibited no sluggishness or stuttering while scrolling, opening apps, or during multitasking. We will be taking a closer look at the phone in our full review but our first impressions were quite positive.

The registrations for the Yunique will begin tonight from 6:00 PM IST and the phone will be on sale every Tuesday at 12 noon starting September 15.