While Taiwanese company Asus is planning to release its Asus ZenFone Selfie later this year, images of a new ZenFone model with an affordable price have recently surfaced.

Reports indicate that this smartphone, called the ZenFone Go, will be introduced to the public later this month. The exact release date of the ZenFone Go smartphone and its price still remain unclear.

Here's what to expect from the ZenFone Go handset in terms of specs and features:

The ZenFone Go is expected to sport a 5 inch display screen with a 720 x 1280 pixel resolution. It is expected to have an 8 mega pixel camera on the back and a 2 mega pixel front-facing camera.

The ZenFone Go is expected to run on the new Android 5.0 Lollipop operating system. Under the hood, it might pack a Mediatek processor with quad core CPU, according to GSM Arena.

It will come with 2 GB worth of RAM and 8 GB internal memory storage. It's still unclear whether the handset's internal memory can be expanded via a microSD card.

International Business Times reported that the new images were leaked along with these specs by a reliable source from Russia, which is the same source that gave a glimpse of the new Asus ZenFone Selfie.

Unlike Asus' recently released ZenFone 2 device, the rumor suggests that the new handset will not be compatible with 4G LTE connectivity but will work with 3G. In addition to the specs, the new phone will be available in various colors.

Another new phone that's also scheduled for release by Asus is the ZenFone Zoom. The ZenFone Zoom comes with a powerful 13 mega pixel rear-facing camera with 3x optical zoom capability. This handset will be launched sometime before the end of 2015, possibly in September.

Founded in 1989, Asus is based in the Beitou District in Taipei.