There's a new player in the smartphone industry. Pepsi is unleashing a phone dubbed the Pepsi P1 and new details have been released to paint a picture on the company's latest venture.

According to a report from Mobi Picker, the leaked images and specs from Pepsi came from the Chinese website Tech Sina. Another source from China, Weibo, also revealed that the details will be officially announced on Tuesday, Oct. 20.

Pepsi P1 features an impressive 5.5-inch 1080p screen, similar to iPhone 6s Plus and other famed mobile phones. It's fitted with a 13-megapixel rear camera plus a five-megapixel front camera. Powered by a 1.7 GHz Media Tek processor, the P1 will also features 2GB of RAM and 16 GB of internal storage. Battery capacity is at 3,000 mAh and the Pepsi smartphone will run the latest Android 5.1 OS.

The Pepsi P1 is reportedly priced at $205 in China. It's an affordable smartphone with decent specifications that will likely find a niche in the mid-range market.

However, since all of the reports on the Pepsi P1 have come from China, it's possible that this particular smartphone will not see a worldwide release outside the country.

A report from Phone Arena said that it is likely that the beverage company simply licensed its name to a manufacturer in China. If so, the Pepsi P1 might not be available anywhere else unless the manufacturer invests in shipping it for sale outside of China.

The Pepsi company has always been a marketing juggernaut and this is a good way to continue making headlines in a different market. They could use all the help they could get after the recent public backlash against Pepsi when the beverage company changed the sweeter of Diet Pepsi cola from aspartame to sucralose (Splenda).

Sales on the beverage have already been declining and it hasn't improved with the introduction of the new formula. Social media has not been happy with the tweak on the tried-and-tested Diet Pepsi as negative mentions of "sucralose" has so far outnumbered the positive mentions six-to-one, according to a report from the Consumerist.

However, the company is not panicking, saying that there are always complaints whenever a change of this magnitude takes place.

"Our belief is that you've got to wait a few cycles to see what the purchase repeat adoption cycle is," Pepsi CEO Indra Nooyi said, according to the Consumerist.

He added, "We're not at all concerned."