technology news: Xiaomi just launched the Redmi K20, but the Redmi K30 is coming with 5G

The Redmi K20 series launched back in June, but it's still making its way to various markets around the world. That hasn't stopped a Redmi executive from confirming that the Redmi K30 is in the works.

Redmi general manager Lu Weibing revealed on Weibo (h/t: XDA) that the Redmi K30 is in development. Furthermore, Weibing said the phone will offer 5G support.

The Redmi executive didn't reveal any other details, such as pricing or a launch window. Nevertheless, this is a massive deal, because Redmi devices are usually cheap compared to similar phones from most other brands.

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This means we might get a 5G smartphone that's much cheaper than other 5G phones on the market right now. In fact, Xiaomi's first 5G device, the Mi Mix 3 5G, retailed for just €599. Redmi is Xiaomi's budget-focused brand, so an even cheaper 5G phone isn't out of the question then.

Hopefully the Redmi K30 is a while away from release though, as it's been mere weeks since the Redmi K20 Pro landed in Europe and India.

Redmi isn't the only company working on a cheaper 5G phone though, as HMD revealed last week that it's working on a more affordable 5G Nokia device too. The new Nokia phone is expected to retail for roughly half the price of current 5G phones (presumably devices from Samsung and LG), and will launch in 2020.

Would you buy a cheaper 5G smartphone? Give us your thoughts in the comments section.