Xiaomi recently invested in Chinese chip maker Leadcore, and already details of a 399 Yuan ($65) Xiaomi phone are doing the rounds!

When it comes to SoC processors, Chinese manufacturer Leadcore doesn’t have the same pull to it as the bigger names like Mediatek or Qualcomm, but that isn’t to say that they should be ruled out, especially after a healthy cash injection from Xiaomi!

Leadcore currently make a few processors which catch our eye, one being the rather powerful looking Leadcore LC1660 chip that is believed to live at the heart of a new generation of low-cost Xiaomi phones.

The LC1860 is built around a 28nm Cortex A7 architecture running at 2.0Ghz with a Mali T628 GPU. The Chip is designed for support for up to 2K LTE displays, and offers 1080p video capture at 60fps and built in 4G LTE, 3G and GSM support.

Of course the full potential of the processor isn’t likely to be realised in a $65 phone, even one from Xiaomi. In fact the the LC1860 is sounds like it might be over qualified for the next generation of low cost Mi phones which are rumoured to have only 1GB RAM and a 720p display.

Still a 1GB RAM, HD, LTE phone f0r 399 Yuan is nothing to be sniffed at and opens the door for more powerful low cost devices in the future.