Sony plans to launch the Xperia 1 V smartphone in Japan on May 11. It will arrive as the successor to last year’s Xperia 1 IV. The upcoming proposal was recently spotted on a billboard displaying its design and some key information. Now there is information about smartphone prices for the Chinese market.

According to the latest developments, the Sony Xperia 1 V will be priced at RMB 8,000 (~$1,160 or £919) in China. If that actually turns out to be true, the upcoming offering will be cheaper than the last-gen Xperia 1 IV, which costs 8,499 yuan (~$1,231). The price difference between Xperia generations will surprisingly be around 6 percent. Xperia phones are hugely popular in China, so it may be worth the risk to aggressively price Sony’s upcoming offering in the country.

However, the aggressive pricing of the Sony Xperia 1 V doesn’t seem very suitable for global markets. Perhaps it can match the price of its predecessor. It will still be an attractive option for customers looking to purchase the device, as it is reportedly coming with updates.

The Sony Xperia 1 V has already been confirmed to have a next-gen sensor and next-gen imaging. In addition, the billboard included text in Chinese that reads “next generation low noise sensor” (translated), implying that the phone is capable of capturing high-quality images in all lighting conditions. The design of the smartphone has also been confirmed by the leaked images and will be available in white, black and green colors.

The key specs of the Sony Xperia 1 V are expected to include a 6.5-inch 4K HDR OLED display clocked at 120Hz and a Snapdragon 8 Gen 2 processor with 16GB of RAM.