According to Chinese site TMTpost's source, the Taiwanese tech giant is planning to release a plastic-clad version of the HTC One (M8) which will be substantially cheaper than the M8 at around US$480 or £290.
There's no mention of the rumoured handset being smaller than the current M8, which rules out the possibility of it being a new HTC M8 Mini model.
The latest speculation suggests that we could be looking at a new HTC butterfly model, which traditionally has similar specs to the flagship One device, packed into a less premium body.
There's no word yet on whether or not its insides will be any less powerful or retain its dual cameras and front-facing speakers, but we're hoping that HTC isn't sacrificing anything more than build quality
Ditching the aluminium build goes against the M8's biggest upside - its premium design - but if it is released at a price point that undercuts feature packed rivals like the Samsung Galaxy S5, we could see it snapped up with open arms.
That's all the info we have for the time being, so stay tuned for more details as and when we get them.
READ MORE: HTC One (M8) review