Pepsi - yes, the beverage maker - is preparing to release its first smartphone. A mysterious post from Pepsi's official Weibo account led to a leaked image and plenty of speculation over the weekend before the company confirmed the plans with Reuters.

The leaked image claims the Pepsi P1 will feature a 5.5-inch 1080p display that's powered by a octa-core MediaTek processor clocked at 1.7GHz and 2GB of RAM. The device is also expected to ship with 16GB of local storage, a 13-megapixel rear camera, a 5-megapixel front-facing shooter and a 3,000mAh battery.

It'll run Android 5.1 Lollipop out of the box.

A spokesperson for the soda maker said the phone will be marketed and sold exclusively in China. The rep added that the effort is similar to recent globally licensed Pepsi products which include apparel and accessories. Or in other words, an established player in the smartphone industry will manufacture the phone and Pepsi will simply slap its logo on it.

As the publication points out, such branding efforts aren't unusual for Pepsi. Last year, for example, the soda maker teamed with Bang & Olufsen and Italian shoemaker Del Toro to promote its soccer campaign.

Regardless of branding, the phone's specs aren't all that bad, especially given its price. Rumors suggest the Pepsi P1 will be priced at $205 when it goes on sale October 20.

Image courtesy Alexander Tamargo, Getty Images