The British company Nothing has launched an Android phone that offers premium features at a relatively low price.

The phone costs from US$470. The company claims the phone has similar features with premium phone, although it comes at a lower price. The company also stated that it has received more than 200,000 requests for pre-orders of the phone.

According to Nothing, the smartphone offers 18 hours of use on each charge and two days of standby, and that it can reach 50 per cent power in 30 minutes of charging time. In addition, the smartphone has a number of remote functions, including the ability to unlock the doors of a Tesla car.

Nothing is owned by Carl Pei, and backed by Tony Fadell, designer of Apple’s iPod, Twitch co-founder Kevin Lin, and Reddit CEO Steve Huffman. Carl Pei is the co-founder of the phone company OnePlus and is highly regarded in the smartphone industry.

Despite the positive outlook, the company will be facing several challenges, including stiff competition and declining demand in the smartphone industry.

“The smartphone market is frighteningly competitive and is dominated by Apple and Samsung, who have incredible resources. Add in the current macroeconomic situation and cost of living pressure, and it means being successful will be a huge challenge,” said Ben Wood, chief analyst at CCS Insight.

The sources for this piece include an article in Reuters.