While HTC is rumored to be coming out with a bigger HTC One this September to compete with the inevitable Galaxy Note III, this month it’s all about the little guys. After numerous leaks, the company has officially announced the HTC One mini. It’s a compact version of the HTC One with many of the same features, but when you’re shrinking down your flagship phone, something has to give.

The HTC One mini’s design is pretty much the same as its bigger brother, just at a smaller scale. Its screen is now 4.3-inches instead of 4.7-inches and its display resolution is now at 720p instead of 1080p. It might sound like a disappointing downgrade on the resolution front, but HTC going with this new screen size and resolution still gives it a respectable pixel density of 341ppi. The processor has also been scaled back to a dual-core Snapdragon 400 at 1.4GHz, while RAM has been bumped down to 1GB. NFC and image stabilization have also been removed.

With that said, the HTC One mini still has a lot of things going for it. Again, if you loved the design of the HTC One but wanted it in a smaller package, this phone should do the trick. The UltraPixel camera and front-facing BoomSound speakers are also present, as well as LTE connectivity.

Overall, the HTC One mini should be poised to succeed if it can be priced aggressively. And from the looks of it, that might be just the thing HTC is going for. The company says they’ll be aiming for “two price points below the HTC One.” Some carriers offer the HTC One at $100 on contract, so that might be a good sign for this phone and anyone who is interested.

The HTC One mini will be available in two colors at launch, silver and black. It’s set to hit worldwide in August.

[via HTC]