Xiaomi will soon release the Mi 5c a new low-cost option based on the Pinecone processor, a SOC developed by Xiaomi based on ARM's Cortex A-53 cores. It won't break any speed records but it will be cheap.
http://www.notebookcheck.net/Xiaomi-Mi-5c-specs-leak-Low-Cost-phone-features-CPU-developed-by-Xiaomi.185579.0.html