Nothing’s debut smartphone, the Phone 1, is powered by Qualcomm’s midrange Snapdragon 778G Plus processor, the company has confirmed to Input Mag. That means the phone is unlikely to have the raw performance of a device equipped with a flagship Qualcomm processor like the Snapdragon 8 Plus Gen 1.

Nothing founder Carl Pei tells Input Mag that the company went with the lower-specced chip because it believes it offers a better mix of price, performance, heat output, and power consumption. Nothing also says the Plus variant of the 778G supports wireless and reverse wireless charging, features normally reserved for Qualcomm’s flagship chipsets. The Snapdragon 778G Plus also features a marginally faster CPU clock speed than the 778G before it.

Although Nothing’s imagery of the Phone 1 has focused on its white model, recent leaks suggest it could also be joined by a black version. Leaker Ishan Agarwal posted images of the second color on Twitter, which still appears to feature the same illuminating light strips as the white model. Other rumored specs include a 6.55-inch 120Hz display, a 4,500mAh battery with 45W fast charging, and 8GB of RAM, according to 9to5Google.

Although it’s not due to be officially launched until next month, Nothing hasn’t been shy about revealing the Phone 1’s features ahead of time. It showed off its rear design earlier this month, gave an early sample to YouTuber Marques Brownlee to detail the illuminating light strips on its back, and has also confirmed that the phone isn’t getting a US launch (it’s focused on Europe). At this rate, the only details left to announce on July 12th will be its price and release date.