Lava seems to be all set to come forward with its second intel-powered gadget after the Lava Xolo X900 in the Indian Smartphone Market. Lava is expected to launch the Lava Xolo X500 soon as a low-cost smartphone in the market. Lava Xolo X500 sports Dual-SIM features along with its 3.5-inch Display which bears a display resolution of 480 x 320 pixels. The phone based on the Intel reference design has been powered with a 1.2GHz Intel Atom with hyper-threading along with 512MB RAM. This Smartphone will arrive in the market accompanied by a Atom Lexington Z2420 Chip. The Lexington Chipset was announced by Intel at the Consumer Electronics Show 2013 held at Las Vegas earlier this month. Intel had already stated that Lava will be amongst the first companies to use the chipset for manufacturing its devices. The Xolo X500 4GB of Internal Memory along will External Memory expansion features up to 32GB via Micro SD card. To capture tremendous shots the Lava has equipped the Xolo X500 with a 5MP Rear Camera with Autofocus that will feature a burst shot mode at 6 frames per second. As per the expectations Lava Xolo X500 will run on Android 4.0 (Ice Cream Sandwich) Operating System and will pack a 1,500 mAh battery. Reportedly, Lava has shipped the first lot of the assignment and the product is expected to arrive in the market soon. Lava has priced the Xolo X500 with a Best Buy pricing of Rs. 8,999.