Those not wanting to spend hundreds of pounds on an expensive new smartphone will soon be treated to an upgrade usually reserved for pricer call makers. US firm Qualcomm, who makes processors that power many of the world's most popular Android devices, has just announced the launch of a new chip which it says will bring 5G data speeds to more affordable smartphones.

Right now you have to spend around £150 to get a device that allows access to this quicker technology but that's about to change with the new Snapdragon 4s Gen 2 processor expected to be popped inside sub £100 phones.

That should make 5G more accessible to over 2 billion people across the world.

For those not in the know, 5G is the very latest network technology that allows users to download files and films at much faster speeds than older 3G and 4G platforms.

5G can also cope with more devices connected to it at once - that means less chance of poor speeds at busy train stations or people-packed stadiums.

The first batch of Snapdragon 4s Gen 2 phones should arrive by the end of the year and are likely to launch in countries such as India and China. Along with being more powerful, owners should also see much better battery life as well.

It is hoped that these cheaper and faster devices will also come to areas including the UK although there's no official confirmation of a launch date just yet. One of the first companies to confirm it is making a Snapdragon 4s Gen 2 device is Xiaomi with the Chinese company saying it is excited to be working with Qualcomm Technologies to enable access to gigabit-fast connectivity for users.

“The Snapdragon 4s Gen 2 Mobile Platform is a significant leap forward in making 5G technology more accessible, so more people can navigate the world at 5G speeds,” said Chris Patrick, senior vice president and general manager of mobile handsets, Qualcomm Technologies, Inc.

“Thanks to cutting-edge engineering, we balanced affordability with strong performance and all-day battery life as well as widespread access to 5G for more enhanced mobile experiences.”