If you don’t want to drop $300 on a phone we don’t blame you — honestly, the idea makes us feel a bit dirty too. MediaTek doesn’t seen any reason for it either. The company has been working its way in to the mobile chipset business for a little while now, and its latest is aimed squarely at the lower end of the handset spectrum but still promises to deliver the latest in dessert-themed operating systems. The MT6575 is a single core Cortex-A9 solution with an unidentified 5-series PowerVR GPU on board and an HSPA modem. The 1GHz core probably won’t win and benchmark competitions, but it’s enough to push Android 4.0 to a qHD screen, power through 720p video and capture shots with an 8 megapixel sensor. It even is capable of supporting 3D displays and DTV broadcasts — not too bad for something destined to wind up in $50 smartphones. Checkout the complete PR after the break.