Just days after releasing its last new phone, Xiaomi has announced yet another device with competitive specs at a very disruptive price point. Xiaomi calls it ‘the new monster’ and for good reason.

The Redmi Note 2 was unveiled this morning, complete with a 64-bit octa-core Helio processor, a full HD 5.5-inch display and 13MP rear camera made by Samsung. It also has dual SIM LTE support, 2GB RAM and either 16GB or 32GB internal storage. What’s more, there’s a 3,060mAh battery with Quick Charge 2.0 support. It’s compatible with 802.11ac Wi-Fi and runs MIUI 7 on Android 5.0 Lollipop.

It’s a pretty impressive list of specs for a phone that costs the equivalent of $124. Even if you go for the 32GB model, you’re still only paying around $140. Or if you want the Prime model, which comes with 32GB storage and a faster processor, you only need to part with $156. Essentially, a phone with the specs of the Alcatel OneTouch Idol 3, but for $100 less.

As a bonus, the Redmi Note 2 comes in five colors: white, black, pink, brown and light blue.

Xiaomi, of course, is one of many Chinese manufacturers currently squeezing the big names out of the smartphone market in countries like China and India. By offering great specs at a fraction of the cost, products like the Redmi Note series are incredibly disruptive. Perhaps one of the big reasons HTC is struggling to gain any market value, and appeal to consumers.

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