An innovative dual-screen smartphone from Russia is set to shake up the crowded Chinese smartphone market when it goes on sale in the country on April 15.

The versatile YotaPhone has been getting a lot of attention because of its novel combining of a high-definition 4.3-inch LCD display on the front with a power-efficient e-ink display on the back.

Song Xiaodong, CEO of Hangzhou Jielan Information Technology Co., the Chinese partner of Yota Devices, told Xinhua that its planned joint venture with Yota Devices is undergoing China's foreign investment examination and approval procedure. But it won't affect the phone sales, which will begin via e-commerce platforms next week.

Song believes that dual-screen phones are the future for the market.

Upon its debut on Chinese B2C e-commerce platform Tmall.com, the price of a YotaPhone with a memory capacity of 32 gigabytes will be set at 4,888 yuan (787 U.S. dollars). That's about the same as the entry-level model of Apple's iPhone 6.

The YotaPhone's price may go up in the future with the updating of the phone's hardware, Song said.

Jielan, based in east China's Zhejiang Province, has contracted a factory in Suzhou City of neighboring Jiangsu Province to produce YotaPhones sold in China. Elsewhere, the YotaPhone is mainly produced in Singapore, according to Song.

Based on Google's Android operating system, the phone is now available in some 20 countries, with Russia accounting for over 70 percent of its sales.

Competition in the smartphone market in China is fierce. In addition to global leader Apple, Chinese vendors including Xiaomi, Lenovo, Huawei and ZTE are making headway.

Despite the challenges, Song is optimistic. He said the YotaPhone has 170 patents for the dual-screen technology. The rear e-paper screen has the distinct advantage of eye shielding. Users can check the clock and messages at a glance without touching the phone.

"In the future, Yota may develop a cheaper model similar to the iPhone 5c to cope with downmarket demand," he said.

Jielan's joint venture with Yota Devices is expected to be registered in Hangzhou, capital of Zhejiang, with the Russian firm taking 51 percent of the stake.

Song said that the dual-screen phone has inspired a lot of new innovation in smartphone applications. Jielan plans to set up a number of software firms to develop applications taking advantage of the low-power rear screen.