Xiaomi's onslaught of affordable technology continues. The Chinese company has today launched its new 40-inch Mi TV 2: a powerful smart TV running an Android-based OS that will sell for $320.

The new TV features a 40-inch full HD LED panel by Sharp with 5000:1 contrast ratio, a Cortex-A9 quad-core 1.45GHz CPU, 1.5GB of RAM, 8GB of flash storage and a MIUI TV Android-based OS. In terms of playback, it offers H.265 10-bit hardware decoding, allowing you watch H.265, H.264, MPEG4, and REAL, as well as other mainstream video formats like RM, FLV, MOV, AVI, MKV, TS and MP4. Xiaomiappears to be playing up its gaming credentials, too, and boasts that it measures just 14.5 millimeters front-to-back at its thinnest. It appears to be available with a range of bright rear casings, too, that my help you jolly up your pad.

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Perhaps the best part, though, is the price. Xiaomi will be selling the TV fo 2,000 CNY—which is about $320. And while you stand no chance of using a Xaiomi phone in the U.S., there is a glimmer of hope that you may, one day, be able to buy one of these. Xaiomi is to sell its wares in the U.S. this year; it won't sell phones, but it will sell other products. With any luck, this may be one of them. [Xiaomi via Miui]