Taiwanese mobile manufacturer HTC is rumored to release a miniature version of HTC One that aims to beat the forthcoming Samsung Galaxy S4 Mini.

An image from tech website PhoneArena, depicts a device that is being called the HTC M4 and looks like a smaller version of HTC's M7, which went on to be branded as the HTC One. The image shows a device with what appear to be identical build materials and overall design though the overall specs are rumored to be far less powerful than the ones on the HTC One.

The HTC M4 will be priced significantly lower than the HTC One and consequently some sacrifices will be made with its specification. The HTC M4 / HTC One Mini is expected to be launched in the second quarter of 2013 and probably cost around £300.

HTC One Mini dubbed as HTC M4 is said to be have a dual -core processor, 2GB of RAM , same ' Ultrapixel' camera, 16GB of internal memory, and 1,700mAh Li Ion non removable battery. Its display could be a 4.3-inch with 720p HD resolution and 341 ppi along with 4G LTE and Android 4.2 Jelly Bean out of the box.

The device is rumoured to be released in the second quarter of the year sometime around June, which is the same time that the Samsung Galaxy S4 Mini will be launched.

Samsung Galaxy S4 Mini, on the other hand, is claimed to have multiple versions with a 4.3 inch display paired with a quad-core processor depending on model: a dual-SIM version, which will likely not be launched in the UK would feature a dual-core processor; while a single-sim version supporting either 3G HSPA+ or 4G Long Term Evolution (LTE) connectivity would include a quad-core chip. All versions, however, would include the same 4.3 inch Super AMOLED qHD display with a pixel density of 256 pixels per inch (PPI).

According to the SamMobile's anonymous source, the handset will be available in two colours at launch: Black Mist and White Frost.

However, both companies have not yet commented on the rumours surrounding its devices.