With the mobile marketplace teeming with a multitude of highly priced smartphones, one might wonder whether cheap phones still have a place in the mobile infrastructure.

With massive innovation in both hardware and operating systems, phones now do a lot more than just let you talk and text, with handsets like the Samsung Galaxy S4, HTC One and iPhone 5S stealing headlines around the world these days.

Sadly all this innovation isn't cheap – and most of it is reserved for high-end contract handsets. So, is there such a thing as the 'best phone on a budget'?

We've been through our extensive mobile phone reviews to find the best cheap phones at the moment, so if you're looking to pick up a decent handset for not much wonga (under £180 in fact), these are the best budget phones going.

10. ZTE Blade V

ZTE Blade V

PAYG: from £81.99

ZTE might not be the most well known smartphone manufacturer out there, and while it's top-end handsets have failed to hit the mark it does a good job at the opposite end of the market.

The ZTE Blade V is the Chinese firm's latest stab at dominating the budget handset arena, and with a 1.2GHz quad-core processor, 5MP rear camera, 4-inch display and Android Jelly Bean it's a strong contender on paper.

In practice the Blade V isn't the slickest operator, which is a little disappointing considering the specs ZTE has crammed inside, but for the price it doesn't really do a lot wrong.

For those that are after a cheap handset to take to school, or as a back up to something a lot more powerful - just note, it's only available on Virgin Mobile. A potential deal breaker for some.

9. HTC One SV

HTC One SV

PAYG: from £179.95
Pay monthly: FREE from £29 per month

Are you taken by the UK's 4G boom, but don't fancy splashing a huge amount of cash on a top end handset? If so you'll want to meet the HTC One SV.

As you may have already guessed the One SV comes 4G enabled as well as boasting a 4.3-inch display, 1.2GHz dual-core processor, 1GB of RAM, 8GB of storage, 5MP camera and Android Jelly Bean wrapped up in a pleasing body.

It is one of the more expensive handsets on our budget phone list, but recent price cuts means it's now under that magic £200 mark.

Battery life is impressive, internet browsing is speedy and the pocketable design means the HTC One SV is also easy to carry around.

8. Samsung Galaxy S3 Mini

Samsung Galaxy S3 Mini

PAYG: from £139.95
Pay monthly: FREE from £16 per month

Sure the Samsung Galaxy S3 Mini may be over a year old, but that just means you can pick it up for less - resulting in a pretty nifty deal.

The Galaxy S3 Mini never came close to matching the flagship Galaxy S3 in terms of specs, but for £140 you can now snaffle a handset which gives you a 4-inch display, 1GHz dual-core processor, the Android Jelly Bean OS and a 5MP rear camera.

We really liked the Samsung Galaxy S3 Mini. It ticks all the right boxes, and now comes in at a very decent price. The addition of a microSD slot is always a bonus in our book and it's a well built handset.

If the Galaxy S3 Mini takes your fancy then don't hesitate to snap it up at this price - although you might want to finish reading this article first!

7. Sony Xperia U

Sony Xperia U

PAYG: from £79.99
Pay monthly: FREE from £14 per month

The Sony Xperia U oozes style and sophistication. Featuring a well-built form and traditional black Sony style, it will help you get the look on a budget.

As well as it's fashionista tendencies, the Xperia U doesn't disappoint on specs either. A large 3.5-inch touch screen give good access to all your apps, and Ice Cream Sandwich offers plenty of choice when it comes to games and productivity (although it's not as slick as Jelly Bean) - plus a dual-core 1GHz processor isn't bad for the price.

A front facing camera will let you video call at VGA resolution, whilst on the back you will find a decent 5MP camera for your snaps.

The Xperia U doesn't offer any expansion slots, and comes with a slightly meagre 4GB storage. This is plenty for day-to-day use, but you might still need a standalone media player if music or video is your thing.

6. Nokia Lumia 620

Nokia Lumia 620

PAYG: from £99.99
Pay monthly: FREE from £11 per month

There's not a whole lot that the Nokia Lumia 620 does wrong. As an all-round, jack of all trades budget handset it does a great job.

We'd love it if the screen was slightly bigger or it had a little bit more RAM, but for the price we can't really complain.

The range of brightly coloured covers will likely attract the youth of today, and their tough plastic construction should keep the Lumia 620 in good nick, even after the occasional drop.

The only real issue is the battery, and that's an issue to some extent with every Windows Phone 8 right now but if you fancy a little more screen real estate and a non-Android experience then this is a decent shout over the smaller Lumia 520.