A file photo of the logo of Lenovo on a computer monitor during a news conference in Hong Kong.Reuters

Chinese technology behemoth Lenovo is reportedly planning to launch an ultra-budget 4G-LTE smartphone next week.

Lenovo is said to showcase an entry level 4G handset with new generation Snapdragon 410 SoC (System on Chip) at the upcoming CES (Consumer Electronics Show) 2015, Las Vegas and would soon release it in India.

NDTV Gadgets citing sources familiar with the company's plan has claimed that Lenovo's mystery phone is set to be a re-branded K3, which was launched in China early this month.

It has been learnt that the company will be aggressive in terms of pricing of the phone in India. By keeping the price-tag under ₹10,000, it plans to take on the popular brands like Xiaomi's Redmi Note 4G, Nokia Lumia 638 and soon to be released Micromax YU Yureka.

Feature-rich Lenovo K3 is said to sport 5.0-inch HD IPS screen and house Snapdragon 410 SoC, Adreno 306 graphics engine, 1GB RAM, 16GB inbuilt memory and a 2300 mAh battery.

Lenovo, after acquiring Motorola Mobility from Google a few months ago, jumped to the top three global smartphone makers list and since then has been very upbeat over the niche smartphone business especially in emerging markets like China and India.

[Also read: Motorola Launches Moto G (Gen 2) LTE in Brazil; Will it Set Foot in India?]

Its subsidiary Motorola Mobility is also slated to a launch a slew of affordable 4G-LTE smartphones in India in 2015.

[Read more: Motorola to Release Budget 4G Smartphone Next Year in India]

Key specifications of Lenovo K3:

Model Lenovo K3
Display 5.0-inch HD (1280x720p) IPS screen
OS Android 4.4.2 KitKat with custom Lenovo Vibe UI v2.0
Processor 1.2GHz Snapdragon 410 CPU
GPU Adreno 306
Storage capacity 16GB, expandable
Camera Main: 8.0-megapixel with LED flashFront: 2.0-megapixel
Battery 2300 mAh
Network 4G
Add-ons 141.0 x 70.50 x 7.90 mm
Weight 128 g
Price Under ₹10,000