Neo is known for building smartphones with price tags so low that a Nexus 4 would seem like a luxury. If GizChina's contact (and convenient product render) is accurate, that bang-for-the-buck ratio may grow especially wide in the near future. The N003 will supposedly include a 5-inch, 1080p display and a quad-core processor for a target price of ¥899 ($145) in China for a basic Youth version, and ¥1,499 ($241) for a Premium model -- both big deals for the size, we'd reckon. However, there's little doubt that the N003 at those prices would be slower than a truly high-end phone like the HTC Butterfly, especially considering its pedigree. The N002 uses a MediaTek chip and just 4GB of storage, and earlier rumors have the N003 using MediaTek's frugal MT6589 alongside either 8GB or 32GB of space for its respective trim levels. Neo hasn't confirmed the details as of yet, let alone set expectations. Any alignment between the claims and reality could nonetheless see the N003 punching well above its weight, even if most Americans would never feel the impact.