HTC One 2 release date will come with a cheaper smartphone powered by an octa core processor.

A budget-friendly HTC phone is rumoured to be released alongside HTC One 2, also known as the HTC M8. The cheaper handset will resemble the colourful smartphone similar to Motorola's Moto G.

Purported pictures of the new HTC handset will come in a variety of colours such as red, orange, blue and yellow. The upcoming HTC handset will battle it out with Motorola's Moto G.

According to rumours, the new handset will come with a 5-inch 720p HD screen with an 8MP camera, leaving the UltraPixel technologies to remain on the high end HTC One range. There are speculations that the handset will be part of the Desire line and will apparently run Sense 5.5 over the top of Android 4.3 Jelly Bean. The leak also suggests that the device will be powered by MediaTek octa-core processor paired with 1.5GB RAM. The smartphone will come with a very friendly price tag of AU$380.

Meanwhile, an HTC insider told Bloomberg that HTC One 2 will pack a 5-inch screen display. The handset will also be powered by Qualcomm's latest Snapdragon processor and a twin-sensor rear camera paired with HTC's Ultrapixel technology that will yield high quality photos and videos and better image quality.

Other rumours claimed that HTC One 2 will either pack a Full HD screen panel or a 2K screen display. HTC rivals and competitors are heading towards screens with 2K pixels. Grapevine added that HTC M8 will include features such as an ultrapixel rear camera and 2.1 MP front facing camera, 2 GB RAM, 2,900 mAh battery and Sense 6.0.

HTC One 2 release date will happen at the Mobile World Congress next month. However, HTC may hold its own launching event since the predecessor garnered recognition being one of the best smartphones of 2013, HTC probably made the best decision to introduce its successor at a separate launching event to properly present its new flagship phone. Thus, the company will probably skip the MWC next month and release the handset in March.