Snapdragon 8 Elite phones too pricey? A cheaper flagship chip could launch this week.

The Snapdragon 8 Elite is arguably the top smartphone processor of the year, but what if you don’t want to spend a ton of money on a flagship Android phone? Well, it sounds like the company has another high-end chip up its sleeve for this week.

Qualcomm confirmed on Weibo that it would be holding a launch event in China on April 2 (Wednesday). According to machine translation, the company will be revealing new flagship smartphone processors on the day.

This will most likely be the launch event for the rumored Snapdragon 8s Elite or Snapdragon 8s Gen 4 processor. The new chip is expected to slot in below the Snapdragon 8 Elite, much like the Snapdragon 8s Gen 3 was positioned below the Snapdragon 8 Gen 3.

Leaker Digital Chat Station posted apparent specs last week, claiming that it’s built on a 4nm TSMC process. The tipster also outlined the CPU configuration, asserting that it’ll have one Cortex-X4 CPU at 3.21GHz, three Cortex-A720 cores running at 3.01GHz, two Cortex-A720 cores running at 2.8GHz, and two Cortex-A720 cores at 2.02GHz. This looks like a powerful CPU, but it’ll undoubtedly lag behind the Snapdragon 8 Elite and its custom Oryon tech.

The new processor is also said to have an Adreno 825 GPU that’s said to be derived from the Snapdragon 8 Elite’s Adreno 830 graphics. More recently, the leaker claimed that the image signal processor, modem, and “other core modules” were derived from the Snapdragon 8 Elite.

Digital Chat Station claims that Redmi will offer the first phone with this new chip, adding that the phone will have a flat display and a frankly crazy “7,500mAh+” battery. We really hope this phone comes to global markets as it could be a great combination of horsepower and endurance.

It’s worth noting that Qualcomm’s Weibo post mentions new processors rather than just one. We’re not sure what else the chipmaker has up its sleeve, but we’re about due for a follow-up to the Snapdragon 7 Plus Gen 3.