iQOO Neo 5 Lite smartphone was launched on 24th May 2021. The phone comes with a 6.57-inch touchscreen display with a resolution of 1080x2408 pixels and an aspect ratio of 20:9. iQOO Neo 5 Lite is powered by an octa-core Qualcomm Snapdragon 870 processor. It comes with 8GB of RAM. The iQOO Neo 5 Lite runs Android 11 and is powered by a 4500mAh battery. The iQOO Neo 5 Lite supports proprietary fast charging.

As far as the cameras are concerned, the iQOO Neo 5 Lite on the rear packs a 48-megapixel primary camera with an f/1.79 aperture; an 8-megapixel camera with an f/2.2 aperture, and a 2-megapixel camera with an f/2.4 aperture. The rear camera setup has autofocus. It sports a 16-megapixel camera on the front for selfies with an f/2.0 aperture.

The iQOO Neo 5 Lite runs OriginOS 1.0 is based on Android 11 and packs 128GB of inbuilt storage. The iQOO Neo 5 Lite is a dual-SIM (GSM and GSM) smartphone that accepts Nano-SIM and Nano-SIM cards. The iQOO Neo 5 Lite measures 163.97 x 75.53 x 8.93mm (height x width x thickness) and weighs 198.30 grams. It was launched in Polar Night Black and Ice Peak White colour.

Connectivity options on the iQOO Neo 5 Lite include Wi-Fi, GPS, Bluetooth v5.10, and USB Type-C. Sensors on the phone include accelerometer, ambient light sensor, gyroscope, proximity sensor, and fingerprint sensor. The iQOO Neo 5 Lite supports face unlock.