If you love the HTC One but are not so keen on its price-tag, HTC may have the solution in the form of a lower-cost variant currently code-named the M4 (the HTC One was code-named M7).

Phone Arena says the handset is almost identical in appearance to the HTC One, but smaller, using cheaper materials and with a lower-spec – a similar approach to that taken by Samsung with its S III mini version of its then flagship S III. Or perhaps in the previous generation – where the HTC One S was the mini version of the One X.

M4 reportedly steps down the processing power, to just a dual core CPU, and storage is just 16GB, but RAM is still a healthy 2GB, and the camera also contains HTC’s lauded (but somewhat controversial) UltraPixel technology. With less powerful components come less stringent power needs, and in this case, HTC has allegedly opted for a 1700mAh, non-removable battery.

The handset is said to have a 4.3-inch 720p display, LTE and is expected to run Jelly Bean 4.2, a step up from the One’s 4.1.

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