Software
The phone is based on Android 4.0 which is almost stock. Spice has though added few apps on to it. While Spice announced with much fanfare that it is a secure phone, matter of fact is that it is only giving two months trial version Netqin antivirus software. While Netqin is without doubt a good application, it can be anyways downloaded from Google Play store.
However with the presence of Netqin which keeps the phone optimised by clearing the RAM and though it is an antivirus, it doesn't slow down the phone while keeping it protected. So it would be a nice idea for people to invest in Netqin or similar apps from Google Play store.
Competition
The biggest competition for the phone comes from Micromax Canvas II which is price at Rs 9,999 and comes with better 5 inch IPS panel, 8 megapixel camera and dual core 1 Ghz processor. Since we have not used the Micromax handset, we are not in a position to claim how it performs in the real world.
There are other such phablets also from brands like iBall, Mercury, Zync and Karbonn which also compete in the space.
Verdict
While the Spice Stellar Horizon Mi 500 is a decent phone at this price, due to its late arrival post announcement, competitors have got enough opportunity to bring products that have better hardware though none of them have moved ahead in terms of software as yet (All are on Android 4.0 ICS).
