At this rate, just about every company will have a smartphone eventually. Pepsi, the company known for a sugary soft drink, is now launching its own-branded device soon. The “Pepsi Phone” was just a rumor based on sketchy leaked specs for a very short period of time, before Pepsi actually made the device official, without actually announcing anything just yet. As reported by Reuters, the P1 from Pepsi is indeed coming, and the company plans on releasing it in China at some point in the near future. According to that report, the device will be cheap. Specifically, it could retail for only 1299 CNY, or about $205. With that price tag comes a 5.5-inch 1080p HD display, a MediaTek MT6592 processor under the hood, coupled with 16GB of built-in storage and 2GB of RAM. It will reportedly have a 13-megapixel camera on the back, with a 5MP front-facing shooter on the other side. It will have a battery measured in at 3000mAh, and it will be running Android 5.1 out of the box. There are Pepsi-branded accessories coming, too. It sounds like Pepsi could be officially announcing the P1 next Tuesday, so keep an eye out for that.