Vivo took 600,000 reservations before the official August 22 launch at US$536. It's a 6.4' premium quality phone. Previously, the cheapest phone was $580, the iQOO 5G from OPPO. 

Vivo hasn't put a particle accelerator in the phone, but I couldn't resist the illustration. It has 3 cameras in the rear, a 4500 mAh battery, hybrid zoom, etc. OPPO may include AR glasses in a promotion. 

Except for one Xiaomi, all the phones in the west are over $1,000. Airfreighting a phone costs about a dollar. Any carrier that wants 5G customers should send an exec to China, talk to OPPO, Vivo, Xiaomi, and ZTE, and have the most affordable 5G offering in the market.