Samsung is known for its myriad of midrange smartphones in addition to the popular high end offerings. The company has unveiled a new budget device for the Taiwanese market carrying a low price tag and a decent hardware, which has been the company’s secret to success in the midrange segment. Known as the Galaxy Core Lite, the smartphone comes with a 4.7 inch display of WVGA resolution and packs 4G LTE support as well, which is uncommon for a budget offering.

Other features of the handset include a 5-megapixel camera, a 1.2 GHz quad core Snapdragon 400 SoC, 1GB of RAM, 8GB of internal storage, a 2,000 mAh battery and much to our surprise, Android 4.3 Jelly Bean. The handset has been priced at NT$7,988 or $266 which is quite reasonable considering the hardware on board.

The smartphone should make its way to neighboring Asian regions in the coming weeks as well, which is essentially where most of Samsung’s midrange smartphones are sold. The company hasn’t confirmed if the device will be making its way to Europe or the U.S., but we won’t be holding our breath.

The fact that the device doesn’t offer Android 4.4 out of the box while other recently launched Samsung midrangers do is a little baffling to us. But we’re hoping that the company has an update lined up for the device in the future.