HTC Tiara is the codename for next budget friendly smartphone from Taiwanese manufacturer HTC featuring Microsoft’s next Windows Phone update (Windows Phone 8.1). It is rumored to be the first HTC smartphone to come pre-installed with Windows Phone 8 GDR2. The HTC Tiara will pack a 4.3-inch Super LCD2 display with the resolution of 800 x 480 pixels. It will be powered by 1.2GHz dual core SnapDragon processor and 1GB RAM. For multimedia, HTC Tiara will come with an 8 Mega Pixel rear camera capable of shooting 720p videos and 1.6 Mega Pixel front facing camera for video calls. For Storage, it will come with an 8GB built-in memory in addition to microSD card slot. There is no further information available on the device but it is expected to launch during Q2 of 2013 (May 2013 very likely). The HTC Tiara will compete against other low to mid-range smartphones like Nokia Lumia 620, Nokia Lumia 720, HTC First and HTC Desire P. Stay tuned for more updates or follow @harrym20 on Twitter.