We've been hearing rumors about a Leadcore-powered Xiaomi smartphone for a while now. This handset even got certified by TENAA (China's equivalent to the FCC) a while back, and a recent rumor said that the handset will land at the end of this month. According to TENAA's listing, this device was expected to feature a 4.7-inch 720p (1280 x 720) display, 1GB of RAM and 8GB of internal storage. Leadcore's LC1860C quad-core chip clocked at 1.6GHz was expected to power on this device along with the Mali T628 GPU. 8 and 2-megapixel shooters were also mentioned, and Android 4.4.4 KitKat was said to come pre-installed on this device, with Xiaomi's MIUI OS on top of it. 4G LTE connectivity was also mentioned in the listing.
The best part of all this? This device was supposed to cost 399 Yuan ($64) according to rumors, but it seems like that won't be the case. Xiaomi's co-founder and CEO, Lei Jun, said that the company has no plans to release a 399 Yuan Redmi handset. He continued by saying that the company wants to provide quality smartphones to their consumers, and that it's impossible to make a good 399 Yuan smartphone. The Leadcore-powered handset that was certified by TENAA back in December exists, so, the question remains whether the company plans to release that handset, and how much will it cost in the end. It is possible that Xiaomi has either decided not to release that device, or that they intend to release it, but that it will cost more than 399 Yuan.
So, there you have it, the company's CEO has confirmed that we won't be seeing a Xiaomi-branded 399 Yuan handset. Xiaomi might still release this handset at some point, but it seems like it won't cost 399 Yuan, that's for sure. The company still plans to release a number of devices this year, the Redmi Note 2 was rumored recently, and so was the Xiaomi Mi 5. Xiaomi's is also due to release a new MiPad tablet, and the Mi Note Pro will go on sale soon after being announced back in January.