If you’ve been waiting for one of HTC’s new “One” line of Android phones to land in Canada, wait no more.

Today Bell launches the HTC One V, which is the smallest and lightest of HTC’s flagship “One” line of smartphones.

The One V, which we presume stands for “Value,” is certainly one of the least expensive ways to jump into the smartphone market with several attractive pricing options: $299.95 to buy it outright, with no contract, $59.95 on a three-year no-data contract and $0 if you add a data plan to that 3-year contract.

So it’s affordable, but does that mean it’s less capable? No. Consider the following specs:

• 1 GHZ processor
• 512Mb of RAM
• 4GB on-board storage (expandable via MicroSD cards)
• 3G HSPA connections
• Android 4.0 (Ice Cream Sandwich)
• HTC Sense 4.0
• 800×480 3.7″ display
• 5MP front-facing camera with 720p HD video recording
• Beats Audio

Another cool feature is the ability to capture still images while simultaneously recording video which helps take the anxiety out of the decision on whether to take a photo or capture a video – now you don’t have to choose. Speaking of the camera, the One V will ship with “HTC ImageSense, a new suite of camera and imaging features that allow it to rival traditional digital cameras” according to HTC’s press release.

And here’s a pretty sweet bonus: HTC One V users will have access to a special 25 GB Dropbox account for two years. That’s a lot of storage for your photos and videos. Normally free Dropbox accounts only come with 2GB of space.

We’ll be getting our hands on an HTC One V shortly so check back here soon for a full review!

If you’re curious about the full HTC One line-up, check out this excellent comparison, and a look at the unusual material process for the One S case. The HTC One S is slated to come to Bell later this year.

The HTC One V will also be available to TELUS customers later this month.

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Disclosure: Sync is owned and operated by Bell Media, a wholly owned subsidiary of Bell Canada.