Nokia will release a Snapdragon 690-powered 5G smartphone later this year

Shortly after Qualcomm unveiled its latest 5G-enabled Snapdragon 690 SoC, HMD Global's head honcho took to Twitter to announce that the company is working on a mid-range Android phone that will use the chip. The mystery device will likely make its debut alongside the MediaTek Dimensity 800-powered Nokia device that is reportedly in the pipeline.

The Tweet also added that the device would be 'affordable,' indicating that it could retail at around the $300 mark. The phone will likely be the Nokia 6.3 or Nokia 7.3, as they fit the description of a 5G-ready affordable smartphone rather well. Nokia is expected to unveil its flagship offering later this year. It will very likely use the opportunity to tell us more about its other 5G smartphones.

Mid-range 5G phones are still few and far between, primarily because 5G isn't as widely available as its predecessors. However, that hasn't stopped OEMs like Nokia from futureproofing their lineups. Chipmakers such as Qualcomm, MediaTek, Hisilicon, and even Unisoc (formerly known as Spreadtrum) are also working hard to reduce the costs of 5G-ready SoCs.