HTC has launched a smaller variant of its flagship One smartphone, HTC One mini, with new technology to make it attractive for the price conscious customers.

The new device powered by a 1.4GHz dual-core Qualcomm processor compared to the One’s 1.7GHz quad-core processor and runs on Google’s latest version of Android with HTC Sense.

Equipped with a 4.3-inch high definition screen with 720p resolution, the device is smaller compared to the HTC One which sports 4.7-inch screen but comes with similar features like the HTC BlinkFeed, HTC Zoe and HTC BoomSound.

HTC CEO Peter Chou said: "The HTC One mini embodies everything that makes the HTC One a success on a smaller but equally eye-catching scale."

Features of the smartphone include 4MP rear camera as well as 1.2MP front facing camera, while it also has 16GB internal memory.

The HTC One mini is scheduled to be available in select markets from August and will be launched globally from September this year.