The cheaper version of the Samsung Galaxy S2, called the Galaxy R, is now available on preorder from as little as £300 from Handtec.
Given that there's a 20 per cent price difference between the two handsets, there are some corners which have been cut, although the Galaxy R still remains a very capable device.
The smartphone, which is known as the i9103, comes with a dual core Nvidia Tegra 2 processor clocked at 1GHz - a surprising choice given that Samsung builds its own Exynos series chipsets.
There's also a 4.2-inch Super Clear LCD capacitive display with a WVGA resolution, 1GB RAM, 8GB onboard storage, a five megapixel camera with LED and a 1.3 megapixel front facing one.
The Galaxy R runs on Android 2.3 Gingerbread and, like the Galaxy S2, includes Samsung's own TouchWiz user interface.
Other features include a microSD card slot, 720p video recording capabilities, GPS, a 1650mAh battery, Wi-Fi, Bluetooth, USB and an array of sensors.
The Galaxy R also inherits the sveltness of the Galaxy S2 with a 9mm thickness as well as its design. Other competitors include the £250 HTC EVO 3D smartphone and the £240 LG Optimus 2X.