Some time back, top officials of the Chinese smartphone manufacturer Xiaomi had indicated that the company would soon be coming out with a new budget smartphone. According to the company, the upcoming handset would be running the low cost Leadcore processor, suggesting that the device would be competing against the Lenovo A6000 - presently one of the best budget handsets available on the market.

Tech Radar reports that a latest revelation now hints that the new smartphone will be launched on April 8. In terms of specs, the upcoming handset will come with a 4.7-inch HD display together with the aforementioned Leadcore LC 1860 quad core CPU clocked at 1.6 GHz.

As far as the device's camera is concerned, Xiaomi has equipped the device with a 13-megapixel sensor on the rear side together with a 2-megapixel front camera. The device also boasts an 8GB internal storage that can be expanded using a microSD card slot and a 1GB of RAM on board. The new handset will run with Android 4.4.4 and this is somewhat disappointing because Android 5.0 is already available on nearly all mid-range and budget devices.

Apart from competing against the Lenovo A6000 and Xiaomi's own Redmi Note 4G, the new handset may pose a stiff challenge to the Moto E (2nd Gen), which is already struggling to make an impact.

Tech Radar says that as Lenovo has started taking the market by storm; Xiaomi will have stiffer competition this year. Apart from Lenovo products, Xiaomi will also have to deal with the presence of other regional rivals like Huawei, Meizu and others.