ZTE (HKG:0763; SHE:000063) has managed to steal some thunder from China’s Xiaomi Mi2 phone by unveiling the cheapest quad-core phone in China (and maybe the world) - the new ZTE U950. It’ll cost just 999 RMB (US$160). Engadget points out that the U950 packs a 1.3GHz Tegra 3 chip, 1GB of RAM, 4GB of internal storage, and a 2,000mAh battery beneath the 4.3-inch display. At that price, it undercuts the quad-core Xiaomi Mi2 by half - though the Xiaomi’s CPU is clocked faster.
The ZTE U950 bears the nickname North Star Swirl in Chinese. It’s available only on China Mobile, which means it supports only the TD-SCDMA protocol for 3G, and suggests this exact model will not make it to overseas markets. Though a version with different 3G support might do.