Micromax, one of the most popular smartphone manufacturer in Indias, has just released a new line of smartphones. Called YU, short for Yureka, the device will retail for $140.

The best thing about this device is the operating system it’s running on. While it’s Android for sure, it’s the modified version known as CyanogenMod. It has gained popularity for building ROMs that offer faster and smoother performance even on low end devices compared to their stock version of Android.

However, for Micromax YU, it’s not a low end device. With a 5.5-inch 720p display, Micromax YU¬†packs a Qualcomm Snapdragon 615 which is a64-bit octa-core chip clocked at 1.5 GHz. It has 2GB of RAM, 13-megapixel rear and 5-megapixel front camera, and a 2500 mAh battery to power it all.

Surprisingly, it also supports LTE network, which is definitely a great thing to have in a phone that retails for just Rs. 8,999 ($142).

As mentioned earlier, the feature that most smartphone users in India are craving for is the operating system. CyanogenMod’s latest version, developed on Android KitKat, is the default operating system on this smartphone. Users with the least bit of enthusiasm and knowledge of the smartphone industry knows the true power of CyanogenMod ROMs, and it’s the biggest selling point of this device.

It comes with a cost, though. Another worldwide popular device, OnePlus One, has been banned from India because of an exclusivity deal between Micromax and CyanogenMod. OnePlus One also features CyanogenMod ROM right out of the box. After Micromax filed a case with Delhi High Court, the court banned all sales and marketing as well as importing of OnePlus One device giving a huge advantage to Micromax Yureka.

As of now, the phone is only available in moonshine grey. Under the hood though, users will be able to choose their favorite color for the theme and font as CyanogenMod supports them natively. Up to five apps can be assigned to be launched straight from the lockscreen, and lockscreen can be unlocked by double tapping on the phone when it’s in sleep mode.

Other features such as heads-up notification from Android Lollipop have also been introduced in the CyanogenMod’s ROM to make sure users don’t miss anything just because their ROM isn’t Lollipop yet.

Pre-order for Micromax YU starts on December 19. Fans will be able to pre-order for the device on Amazon India’s website. It now remains to be seen how much of an impact Micromax can make and whether potential OnePlus One users decide to stop waiting and get themselves a Micromax Yureka instead.