Xiaomi its new smart TV earlier this week. Rather than the third-generation product many expected, it today unveiled a smaller and cheaper version of its (already reasonably priced) Mi TV 2.

The new Mi TV 2 — which confusingly has the same name as its predecessor — is smaller at 40 inches wide and 14.5mm thick thin. For reference, last year’s model is 49 inches and 15.5mm. A quad-core MStar 6A908 Cortex-A9 CPU and Mali0450 MP4 GPU are under the hood this time, alongside 1.5 GB of RAM and 8GB memory.

The big difference here is that the new model has a 1080p display, as opposed to last year’s 4K screen. Given that step down, the new Mi TV 2 comes in at a cheaper $322 (RMB1,999). Those preferring a higher resolution can pay $670 for the original, 49-inch Mi TV 2.

Xiaomi has again integrated an Android (well, MIUI)-based entertainment system. It runs Android 4.4 out of the box, but is upgradable to Android 5.0, the company said. That’s useful for playing games, watching videos and movies (Xiaomi reminded us it is investing $1 billion on content), and getting on to the web.

The TV goes on sale in China on March 31. Xiaomi has not said whether it will be available in other markets.

Xiaomi is the world’s third largest phone maker based on shipments (it’s top in China), but smart TVs are one component in its push to go beyond phones and into the home and other areas. The company’s portfolio includes less orthodox ‘smart’ products, including an air purifier and a blood testing kit, in addition its wearable Mi Band, Go Pro-like action camera, and more.