Xiaomi today announced a brand new addition to its smartphone lineup called the Redmi A2, and it aims to deliver capable specifications at an incredibly affordable price tag. For under $100, buyers get a quad-core processor, a 720p display, and an 8-megapixel camera.

The Redmi 2A looks like a miniature version of Xiaomi’s MiPad tablet, with a simple design made out of bright and colorful plastic. Aimed at emerging markets, it’s a more affordable version of the existing Redmi 2, which sells for around $120 in India.

Under that colorful shell, the Redmi 2A packs a 1.5GHz Leadcore L1860C chipset with a quad-core Cortex A7 processor and Mali T628MP2 graphics — plus 1GB of RAM, 8GB of internal storage, and a 2,200mAh battery.

The handset also boasts a 4.7-inch 720p display, an 8-megapixel camera on its back, and a 2-megapixel camera on its front.

These certainly aren’t cutting-edge specifications for 2015, but for under $100, you really can’t go wrong. The snappy processor, sharp display, and seemingly impressive camera make up for a capable smartphone that should do just about anything fairly well.

The Redmi 2A is available today in India, priced at 599 RMB ($96), but on April 8, Xiaomi will be slashing the price to 499 RMB ($80) for one day to commemorate its five-year anniversary.

The company hasn’t yet confirmed plans to launch the device elsewhere, but we’ll likely see it popping up in other emerging markets later on, and in the west via third-party sellers on sites like Amazon and eBay.

• SourceXiaomi