The leading PC and mobile phone maker Lenovo has announced the launch of its new budget 4G LTE-capable phone at the upcoming CES (Consumer Electronics Show) 2015. Lenovo has indicated aggressive pricing for this device and expect believe it to compete with the Xiaomi Redmi Note 4G and Micromax’s YU Yureka phones.

Lenovo’s 4G device is powered by a Qualcomm Snapdragon 410 chip and will be unveiled in Las Vegas on January 8, 2015. The phone is expected to hit Indian markets soon after, where 4G is available only in select regions.

While no clear details are made available about the 4G device, NDTV Gadgets speculate it to be the Lenovo ‘Lemon’ K3 smartphone. Lenovo recently launched this device in China, where it has been priced CNY 599 or about INR 6,000. The Chinese manufacturer did not reveal any plan for the global launch of this device at that time.

Lenovo’s Lemon K3 is a 5-inch phone with 720×1280 pixels HD IPS display powered by 1.2GHz, 1GB of RAM. The phone comes with 16GB of internal storage, which could be expanded with microSD card slot.

The phone features a 2300mAh battery, 8 MP rear camera, a 2 MP front camera and Waves MaxxAudio technology. The competitive models including, Micromax’s Yu Yureka and Xiaomi Redmi Note 4G, are priced at INR 8,999 and INR 9,999, respectively.

The Yureka smartphone is powered by Qualcomm Snapdragon 615 octa core chip and 2GB DDR3 RAM on Cyanogen OS. The phone will go on sale starting January 13. However, it will be available only for pre-registered buyers. Micromax is launching this phone exclusively on Amazon India.

Xiaomi’s Redmi Note 4G has already debuted on Flipkart and achieved a successful launch with all stocks selling out in about six seconds. It is a single SIM phone powered by a 1.6GHz Qualcomm Snapdragon quad-core processor.