GoPro Inc (NASDAQ:GPRO)’s flagship action camera Hero 3+ Black Edition costs a whopping $399. The much-rumored Hero 4 will reportedly have an even higher price tag of $499, according to Stifel analyst Jim Duffy. Though the forthcoming camera will pack some impressive features, it may be out of reach of many consumers due to its hefty price tag.

GoPro’s budget camera to cost about $200

But GoPro is also working on a budget-price Hero camera. PetaPixel recently reported that the low-priced camera will arrive without the fancier bells and whistles of its bigger siblings. If PetePixel’s sources are to be believed’s GoPro’s budget camera will have no WiFi or Bluetooth connectivity, no 4K video mode, and no touch display.

The device will reportedly have a one-touch QuikCapture button, high quality 1080p 30fps and 720p 60fps video, 5-megapixel camera with 5-frame-per-second burst photo mode, and a microSD card slot for upto 32GB storage. GoPro’s affordable camera will come with a non-removable, rugged waterproof case, 2.5 hours of battery life, and a built-in microphone.

Now Gizmodo has obtained a leaked video of GoPro’s budget camera from Russian leaker Rozetked. Note that Rozetked is the same Russian tipster who managed to get their hands on the actual iPhone 6 more than a week before it hit the stores. The Russian language video with English subtitle shows the same specs revealed by PetaPixel. It will cost enthusiasts only about $200.

Polaroid challenges GoPro with its $99 camera

The low-cost GoPro Hero has the same specs on the inside as the old GoPro Hero 3 White Edition. Its image quality isn’t as good as the Hero 3+ Black Edition. But the tradeoff is worth making if it is priced at sub-$200. GoPro will soon face some tough competition in the action camera market. Polaroid has unveiled its adorable HD action camera called Cube. It costs only $99.

GoPro Inc Hero 4 Price And New Budget Action Camera Details

Taiwanese smartphone maker HTC is also jumping into the market with its own action camera, rumored to be named ReCamera. Just like Polaroid Cube, it will be waterproof.

GoPro stock hit a record high last week as rumors of a new camera launch built up steam.