According to the report, the only physical difference between the two versions of the new HTC One (M8), will be the material used on the casing. As far as the pricing between the two, there is a huge difference. The metal-clad HTC One (M8) is priced at 5299 Yuan ($853 USD), while the report says that the plastic variant will list for 3000 Yuan ($483 USD). HTC reportedly sees the plastic version of the M8 as "being the same phone, but of different quality".
In the unlikely event that this does pan out, the plastic version of the HTC One (M8) could have distribution limited to Asia and other regions where carrier subsidies are not prevalent. By offering a lower priced plastic version of the HTC One (M8), HTC could then undercut the pricing of the Samsung Galaxy S5 in those areas.
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source: TMTPost (translated) via GforGames