Yup, you read the title correctly. ZTE has announced a new Android smartphone priced at only 999 yuan, which equals to about $160. That's a pretty good price considering the kind of hardware that has been tucked inside the handset: quad-core Tegra 3 processor by NVIDIA clocked at 1.3GHz, 1GB of RAM, 4.3-inch WVGA screen, and 2,000mAh battery. There is also a 5-megapixel camera on its back capable of capturing 1080p video, and a front-facing snapper for video chats. All of that is contained inside a 9-millimeter body.
The ZTE U950, as the smartphone is called, can be ordered on November 11 by the first 100,000 customers who reserve a unit, with further stock probably scheduled to arrive at a later date. At this time, the device seems meant to be offered on the Chinese market only.