Virgin Mobile USA has announced their latest Android smartphone. The handset is the Kyocera Event and it joins the pre-paid device lineup with a price point of just $79.99. Of course, given the low contract-free price, one may come to the assumption that the specs are not what could be described as high-end. Truth be told, that would be true, but remember — the point here is a low handset price and a low monthly price. And to achieve that, you sometimes need a trade-off.

In the case of the Kyocera Event, the handset is running Android 4.0 Ice Cream Sandwich, powered by a 1GHz processor and sporting a 3.4-inch HVGA display. While not high-end, the Event should be able to get the job done. Other specs include 3G, Wi-Fi and Bluetooth 2.1 along with 4GB of internal storage, a microSD card slot, 512MB of RAM and a 3.2 megapixel rear-facing camera with an LED flash.

The Event also has the Swype keyboard, an Eco Mode to help manage battery life, Virgin Mobile ID packs to make the customization process a bit simpler and MagniFont which will easily increase the font size and make things a bit easier to see. Granted, that last feature may not be for everyone, however we suspect some may really enjoy it.

Aside from the specs and handset price, lets talk Virgin Mobile plans. The carrier has plans available at $35, $45 and $55 per month. These all include unlimited messaging and data. The low end plan includes 300 minutes, the middle plan includes 1200 minutes and the top-level plan bumps the minutes up to unlimited. Finally, Mobile Hotspot is available as an add-on with any and will set you back an additional $15 per month.

[via Virgin Mobile]