HTC has taken the wraps off its latest budget-focused smartphone for its home market of Taiwan. The Desire 500 packs a 4.3-inch WVGA (800x480) display, and is powered by a 1.2GHz Snapdragon 200 processor with 1GB of RAM and 4GB of storage, expandable via microSD. On the software side, the star of the show is the company's latest Sense 5 UI, which complete with the BlinkFeed home screen reader. Buyers will miss out on big-name HTC feautres like BoomSound and the Ultrapixel camera, however, as the Desire 500 comes with a standard 8-megapixel shooter and single rear speaker. Engadget is reporting a MSRP of NT$11,900 ($400), which might also make the 500 a tough sell.