Xiaomi is known for devices that offer stellar value for money, but up until now, none of its devices managed to break the sub-$100 barrier. That changes today though as the Chinese company has announced its cheapest handset yet — the Redmi 2A.

To hit the sub-$100 mark, Xiaomi has had to make some compromises in the internals of the device, which includes a quad-core Cortex-A7 1.5GHz Leadcore L1860SoC, Mali-T628MP2 GPU, 1GB RAM, 8GB internal storage, 8MP rear shooter, 2MP selfie camera, a 4.7-inch LCD with 720p resolution and a 2,200mAh battery.

The handset will be available for RMB599 ($96), but on April 8, Xiaomi will be offering the handset for only RMB 499 ($80) to celebrate its five-year anniversary.