BT Shop sells the Archos 50 Platinum for under £187.87. This is essentially an entry level phablet, the name commonly given to smartphones that have a display of 5in or more.
This model comes with a quad-core Qualcomm MSM8225Q SoC based on the Cortex-A5 and clocked at 1.2GHz. It features an Adreno 203 GPU, two SIM slots (one can accommodate 2G and the other one 3G), Android 4.1.2 Jelly Bean, 1GB of RAM, 4GB onboard storage, a microSD card slot, a 2,000mAh battery, GPS, Wi-Fi, a 5in 960 540 pixel IPS display, DLNA, Bluetooth 3.0, a rear 8-megapixel camera, a front-facing 2-megapixel one, HD recording all in a chassis that's only 8.9mm thick.
The Archos 50 Platinum is one of the many devices that will come with a quad-core SoC clocked on the Cortex-A5. Expect many more manufacturers to unveil similar models in a near future. The ARM current nomenclature include the A5, the A7 and the A15, with the A8 and the A9 considered to be almost obsolete.
The A5 is usually the one that's cheaper to produce as it occupies a smaller die size and almost certainly as a lower license fee. However, the fact that it can be presented as an affordable quad-core solution gives it the upper hand when it comes to marketing purposes.