UPDATE: 10/13/15, 10:57 a.m. ET: PepsiCo. provided the following statement: “We are pleased to share that Pepsi is working with a licensing partner to bring a line of mobile phones and accessories to market in China in the next few months. Available in China only, this effort is similar to recent globally licensed Pepsi products which include apparel and accessories. Pepsi has always moved at the speed of culture, and today technology is a key cultural pillar at the heart of consumer interaction. Pepsi has no plans to get into the mobile phone manufacturing business, but we are committed to engaging with consumers in innovative ways to grow our brand. We’ll share more news as it becomes available."

UPDATE: 10/12/15, 4:19 p.m ET: Reuters has confirmed PepsiCo. will release an official licensed phone in China. The company will not manufacture the phones — an unnamed partner will produce the phones — but will lend its brand to the device. Our original story appears below.

No, this is not a joke.

PepsiCo. China is planning to announce its own Android smartphone for the Chinese market, according to the a report from Mobipicker, a blog that covers mobile phones.

The so-called Pepsi P1 looks to be your typical budget-priced Android 5.1 Lollipop smartphone. At about $205, the P1 will reportedly come with a 5.5-inch 1080p display, 1.7GHz processor, 16GB of internal storage, 2GB of RAM, and a 3,000 milliamp-hour battery.

It'll also have a 13-megapixel camera on the back and 5-megapixel camera on the front.

A leaked image (above) shows what appears to be capacitive buttons below the screen (though they could be physical ones) and possibly a fingerprint sensor on the back, just below the camera.

The phone looks to be pretty skinny; the leaked specs suggest a phone that's 0.30-inches thick.

Pepsi will reportedly announce the P1 phone on Oct. 20.

As bizarre as Pepsi selling its own smartphone is, we're just wondering who's going to buy a Pepsi-branded phone? It's tacky enough that people go around wearing NASCAR jackets emblazoned with the Pepsi logo, but on your phone, too? Yuck.

Update: 10/12/15, 3:33 p.m ET: Buzzfeed's John Paczkowski's received a statement from PepsiCo. saying the company has "no plans to get into the mobile manufacturing business."

"PepsiCo has no plans to get into the mobile phone manufacturing business, a spokesperson said on Monday." — John Paczkowski (@JohnPaczkowski) October 12, 2015

This still doesn't rule out the possibility of another OEM partner manufacturing the so-called P1 phone and using PepsiCo's branding on it. Also, keep in mind, the P1 is a phone reportedly slated for the Chinese market. Mashable has reached out to PepsiCo. for clarification.