PepsiCo (PEP) has announced a plan to market mobile phones and accessories in China. The beverage giant will not be manufacturing the products but will work with an un-named licensing partner on the project over the next few months. According to the latest reports the mid range smartphone will be called Pepsi P1 and will be powered by Google's (GOOG) Android operating system. The phone is expected to retail for around $205 and will be branded with the Pepsi logo. It's a new kind of marketing for the soft drinks and snack food company, which has been working to diversify its offering. A Pepsi spokesperson confirmed the product would only be available in China, announcing that 'Pepsi has no plans to get into the mobile phone manufacturing business, but we are committed to engaging with consumers in innovative ways to grow our brand.’ TheStreet's Amelia Martyn-Hemphill reports from New York.