Yes! That ain't a typo! You read it right. Pepsi seems to be in mood to expand its horizon and jump into the mobile business! There were rumours for past the whole week that Pepsi is set to launch a new phone but there was not much detail on it till now, when the drinks company confirmed it. Leaked images suggest that the phone would carry an Android OS and will be called Pepsi P1. The rumored specs boast that the upcoming smart phone sports of a 5.5" 1080p display, fingerprint scanner and 13MP + 5MP cameras. The P1 might have a MediaTek MT6592 chipset, 2GB of RAM, 16GB of expandable storage and a 3000mAh battery are also said to be on board. Pepsi P1 will boot Android 5.1 Lollipop. The pricing is to start at just 1,299 yuan — about $205 US. A PepsiCo spokesman said, "We are pleased to share that Pepsi is working with a licensing partner to bring a line of mobile phones and accessories to China in nest few months." Available in China only, this effort is similar to recent globally licensed Pepsi products which includes apparel and accessories. This news comes on the background of the fact that Diet Pepsi sales are plunging! Maybe, trying to increase the source of income, are we?