HTC Corp. will release a more affordable, plastic version of its newest flagship smartphone in China next month to compete with the Galaxy S5, according to a report. The only difference between the current HTC One M8 and the plastic version will be the casing material, as the hardware specifications and software features will be almost the same, Chinese business news portal TMT Post reported April 12.

The plastic version of the M8 will cost about 3,000 Chinese yuan (US$483), compared with 5,299 Chinese yuan for the metal-clad M8 that went on sale in China April 11, the report said.

HTC declined to confirm or deny the report.