Motorola recently launched its budget-friendly Moto G but the company wants to do even better than that, hinting at a $50 smartphone.

The Moto G is definitely a good deal at its $179 price tag off-contract and it has already stirred plenty of interest. Motorola, however, may be prepping an even cheaper model to launch in the future.

Speaking with TrustedReviews, Motorola CEO Dennis Woodside said that his company aims to push for smartphones that are even cheaper than the $179 Moto G.

"In much of the world $179 is a lot of money so there's a big market at a price point of less than $179," Woodside told TrustedReviews. "We're going to look at that and just delivering on that value promise is super important. I mean why can't these devices be $50? There's no reason that can't happen so we're going to push that."

In other words, Woodside didn't say that such a dirt-cheap smartphone is already in the works, but mentioned that it is on Motorola's agenda. Other than this, the CEO offered no details regarding the specifications of such a budget phone.

The Moto G, for instance, falls in the mid-range category and offers some pretty impressive specs for its price tag. The handset sports a 4.5-inch 720p HD display, a quad-core Qualcomm Snapdragon processor clocked at 1.2GHz, and a 5-megapixel camera, which are quite decent specifications. Moreover, despite its low $179 price tag, the Moto G rocks the new Android 4.4 KitKat OS.

Motorola would surely have to cut more than a few corners to release a $50 phone and the device will most likely have low-end specifications, but that's what budget handsets are all about. High-end specs come with a price to match, but at $50 you really can't expect too much.

Woodside made no mention of when Motorola might unveil such a cheap phone, but more details will likely surface shortly as the company explores the possibility. In the meantime, Motorola is expected to make new unveilings at the Mobile World Congress (MWC) 2014, which kicks off next month in Barcelona.