Although the HP Elite x3 did not become as successful as flagship handsets from Samsung and Apple, it is safe to say that HP is still determined to put out another Windows 10 Mobile handset to penetrate the smartphone market that’s recently been void of a strong presence of Windows-powered handsets. If a new rumor is to be believed, the Palo Alto tech company is already working on its successor to the Elite x3.

According to PocketNow, HP is preparing a sequel to the Elite x3. However, unlike the business-focused “3-in-1” device, the upcoming smartphone — which could be called the Elite x4 — is going to be an mid-range entry because of its average specs and features.

The HP Elite x3 arrived with a $699 price tag and if purchased with the Desk Dock, the package costs $799. Because of its premium price point, the HP Elite x3 was not able to reach out to a large crowd of consumers. HP plans to change this by releasing a successor that would retail for around $300. The more affordable pricing could, of course, help the company in easily marketing the new Windows 10 Mobile phone to everyone.

Cutting down its market value obviously has an effect on the quality of the device. Generally speaking, the HP Elite x4 is now expected to have humbler overall specs and features. Rumor has it that HP could be going for a faster version of the Snapdragon 617 SoC — one that Qualcomm has yet to introduce to the market.

Despite being a mid-range device, PhoneArena says the new HP Windows 10 Mobile handset will still feature support for Continuum and the Desk Dock. Thus, it would still feel like the Elite x3 without the flagship’s top-of-the-line processor. The consumer-focused handset is expected to be released next year.

The Elite x3 successor is reportedly making an appearance at the 2016 Mobile World Congress in Barcelona, Spain. No word yet on when HP is planning to release its new smartphone to the public. What’s clear is that it could compete with the rumored flagship from Microsoft, the Surface Phone.