Flagships, mid-tier, and entry-level phones. Each have their own demographic target. Each carefully balances pros versus cons, and power versus price. Flagships generally cost between US$400 and $600 for smartphones, and a couple hundred more for phablets. Mid-tier phones typically run about half that, though things start to get muddy when you try and calculate the cost of a mid-tier or entry-level device without a carrier subsidy. What you rarely see is a phone with really good specs and a really low price tag. Then again, the ASUS ZenFone 2 seems like it might be such a device.