We saw Xiaomi launch the MiPad 7.9 earlier today and it seems like the company had something else up its sleeves as well. The Chinese manufacturer has announced a successor to the popular MiTV with the brand new MiTV 2. This is a substantial upgrade over the predecessor and comes with a 49 inch 4K resolution 3D display, coupled by the goodness of Android with the MIUI skin on top.

And surprisingly, these aren’t even the best features of this television. The real shocker by Xiaomi is the pricing of this bad boy, which will only be CN¥3,999 or $642. No, that’s not a typo, it’s actually that cheap. To put things in perspective, Samsung’s 28 inch 4K monitor (sans Android) costs $690 on Amazon.

Running inside this Smart TV is a MediaTek MStar 6A918 quad core chipset clocked at 1.45 GHz. It also comes with 2GB of RAM, 8GB of internal storage and a microSD card slot. The MiTV 2 will be available in China beginning from May 27, although people outside the region might never get to see the TV in their living rooms, which is disappointing.

But the MiTV 2 has certainly set a new benchmark for 4K 3D Smart TVs and it’s good to see that a company like Xiaomi is doing something to provide cheaper alternatives to expensive offerings from major manufacturers.