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Xiaomi is preparing a 7.85in tablet with a budget price tag

We've been hearing a great deal about Xiaomi and its plans to break into the smartphone market outside of China lately – with the firm hoping to quintuple its handset sales to 100 million in 2015 – but the company also has tablet plans.

There have long been rumours about Xiaomi's slate debut, and the latest one is that the manufacturer is planning to push out a 7.85in compact tablet with a 2,048 x 1,536 resolution display.

The most interesting titbit is the price that Xiaomi is looking to stick on this device, though – at least in China, where according to Into Mobile, the tablet will apparently retail at the $160 mark (£95).

It's not clear exactly what plans Xiaomi has for international expansion outside of China when it comes to the tablet arena – if indeed this rumour is correct and this slate exists – but it won't be out for some time yet, and there's every chance it won't hit Europe. And if it does, don't expect to be grabbing it for a hundred notes, even if everything about this rumour is spot on – we can expect some sizeable price inflation for importing to the UK market.

Still, Xiaomi is definitely a force to watch going forwards, for both smartphones and tablets – and any extra competition driving prices downwards has to be a good thing for consumers.

Last week, Xiaomi splashed out $3.6 million (£2.1 million) on the domain, which again is all part of its international expansion plans; "Mi" being a lot easier for Westerners to pronounce than Xiaomi...