A cheaper Snapdragon 8 Elite Gen 5 variant is reportedly in the works and could be a lifeline for budget flagships

Qualcomm may not be done with the Snapdragon 8 Elite Gen 5 just yet, even with its successor only a couple of months away. A new leak suggests the company is preparing a fourth variant of the chip aimed squarely at keeping phone prices in check.

Leaker Digital Chat Station posted on Weibo that the Snapdragon 8 Elite Gen 5 is shaping up to be a long-lasting flagship chip, one Qualcomm intends to keep selling well past the usual one-generation cycle.

Three versions of the Snapdragon 8 Elite Gen 5 already exist. There is the SM8850-5-AC, a seven-core version found in the Oppo Find N6, the standard eight-core SM8850-AC used in phones like the OnePlus 15, and the overclocked SM8850-1-AD, which powers devices like the newly announced Galaxy Z Fold8.

According to the leak, a fourth variant called the SM8850-1-AB is due sometime in the coming months. It is expected to post benchmark scores close to the standard eight-core version while costing less, priced for phones under roughly 4,000 CNY, or about $600, while still supporting the same feature set as the rest of the Snapdragon 8 Elite Gen 5 family.

The timing lines up with what is happening on the pricing side of the industry. Component costs, RAM in particular, have been climbing, and that is expected to push up the price of Qualcomm's next flagship silicon. Earlier leaks have pointed to the Snapdragon 8 Elite Gen 6 Pro costing upwards of $300, a steep jump that would weigh heavily on a phone's overall bill of materials.

Even the standard Gen 6 chip, which is expected to trim some features to control costs, is unlikely to come cheap. Against that backdrop, a refreshed last-generation chip that still performs close to flagship level starts to look like an easy call for phone makers, especially since most phones today already offer more performance than the average user actually needs.

However, I should mention that just last month, Digital Chat Station mentioned a separate chip in the works, a "Snapdragon 8 Elite Gen 5XX" carrying the codename SM8850Q. That chip is not mentioned anywhere in this newer leak, and it is not clear whether it has been folded into the SM8850-1-AB, shelved, or is simply still on the way separately.

Qualcomm is expected to officially unveil its Snapdragon 8 Elite Gen 6 and Gen 6 Pro chips at the Snapdragon Summit in September, which should also be the moment any plans for a cheaper Gen 5 variant become clearer.