This card targets the AMD Radeon RX 550 ($79) and according to the rumor mill it will arrive around mid-May 2017. It's based on the new 14nm GP108 GPU and reportedly features up to 512 CUDA cores, up to 2GB GDDR5 memory and a 128-bit memory bus.
As seen on the photo below, the reference design is a relatively simple card with a small footprint and a tiny cooler. It will probably also ship in low-profile and fan-less designs.
On a related note, we also hear AMD has rolled out a Radeon RX 540 for the laptop market. This is an OEM exclusive GPU with 512 stream processors. It may be based on the same Polaris 12 GPU as the Radeon RX 550, but with a slightly higher core clockspeed and lower clocked GDDR5 memory.