ZTE V5 Red Bull: China is the world's largest smartphone market, and getting such a title pushes vendors and manufacturers to provide as many competitively-priced devices as possible in order to sell. 

What's good about such companies is that they do not sacrifice a lot of the smartphone's quality, features or design just to give it a lower price. 

ZTE is one of those brands, and while it does have the so-called 'dirt cheap' Android phones, they still provide the basic needs of their consumers. 

But in a quest to become the best Chinese smartphone maker, it will do whatever it takes - even take on another China-based OEM, Xiaomi. 

Both companies have been doing remarkably well in terms of sales lately, but ZTE may want to push it even harder to get to the top of the market food chain. And it aims to achieve that with the newly announced ZTE V5 Red Bull. 

So what's with the 'red' branding? The report from Android Community says that it could be a direct attack toward Xiaomi's current high-end phablet, the Redmi Note. 

Spec-wise, both devices are similar save for the screen. The ZTE handset has a 5-inch 720p screen, while the Xiaomi phone boasts a bigger 5.5-inch display with HD resolution. 

The ZTE V5 Red Bull is powered by a Qualcomm Snapdragon 400 chipset, a quad-core CPU, and an option to choose from 1GB or 2GB of RAM. Compared to other handsets from local brands and in the phone's price range, it has the upperhand when it comes to LTE connectivity. 

For the base model, consumers will need to pay just around $130 for the V5 Red Bull. On the other hand, if you want to get a slightly higher-spec'd smartphone, there is also the 2GB RAM version for only about $160.