Chinese manufacturer Xiaomi has announced its own action camera that it's selling at a staggering 399 CNY which is about £41.
Despite being £320 less than the GoPro Hero4 Black Edition doesn't fall down on specs. The Xiaomi Yi can manage full 1080p video recording at 60 fps thanks to its Sony Exmor 16-megapixel sensor. Also, like the Go Pro, the Yi is able to shoot in water at depths of 40m and even comes in a little lighter at 72g.
The Xiaomi Yi come with Wi-Fi, can shoot 16-megapixel photos, has a 155-degree wide-angle lens, 3D noise reduction and digital image stabilisation.
Of course the GoPro Hero4 Black Edition takes footage to another level with 4K video at 30 fps or 1080p at a slow-motion 120fps. But for that price difference not everyone is going to want or need those options.
While the Xiaomi Yi is cheap all you get for that price is the camera itself. Since you're probably going to want cases and mounts you will end up spending more in the end. But it'll still be a lot cheaper than the top-end alternative.
The Xiaomi Yi is only available in China right now but with the Mi.com e-commerce site hitting the US later in the year we'd expect this to go international too.