Micromax Informatics on Friday launched the Canvas 5 Lite -- successor of Canvas 5 smartphone -- at Rs 6,499.The Canvas 5 Lite sports a 5-inch HD IPS display with sharp pixel density as well as offering dynamic contrast and colour vibrancy to enhance user's experience."The launch of the Canvas 5 Lite is the latest milestone in our resolve to offer the best products at competitive price points," Chief Marketing Officer of Micromax Informatics Shubhajit Sen, said in a statement.With its superfast 4G LTE capabilities and 2GB DDR3 RAM, the smartphone gives users all the right tools at their fingertips to accomplish tasks at the speed of light. The new smartphone will be available exclusively on Snapdeal from September 23.