The octa-core-running Xiaomi Redmi 2 is slated to be one of the first devices around to provide octa-core performance at a budget price.
The Xiamoi Redmi 2 (also known as the Hongmi), is slated to sport a 5.5-inch 720p display, 1GB of RAM, and 1.7GHz octa-core CPU from MediaTek or a 1.4GHz Snapdragon chip of unknown core count. Also on board is a 13MP/5MP camera combo, and a microSD slot of up to 32GB.
The Snapdragon version in question will be of the Cortex A53 architecture that has support for 4G LTE as well, which would be another important caveat if it were included.
Although all of the above specs sound a bit too hefty for the sub-$130 price range that the Redmi currently inhabits, expect the sequel to be very competitively priced as it hopes to compete in the budget-bonanza that is China's emerging LTE market.