UK-based educational nonprofit company Raspberry has once again raised the bar on low-cost computing after it released the Raspberry Pi Zero on Thursday. The $5 computer has sold out in just a single day.

The new Pi Zero model is $30 cheaper that the original Raspberry Pi, which was released in 2012. The Raspberry Pi Zero is also $4 cheaper than the CHIP which raised more than $2 million on Kickstarter.

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Raspberry Pi head of communications Liz Upton told CNNMoney, "We were amazed at the rush on stores that happened as soon as we announced the release. More Zeroes are being built at the moment and we'll keep making them, but we think it's going to be a little while before we'll be able to keep up with the demand."

Raspberry gave away 10,000 Pi Zero devices for free with a copy of its MagPi December magazine. The magazine is already sold out too.

Raspberry Pi made waves in the tech world when it released its first model in 2012. It was highly regard as the world's smallest and cheapest computer. Raspberry Pi computers are essentially just a piece of motherboard where users can program and can be used to power robots as well as create connected devices.

In order to use the Raspberry Pi, users will have to add their own power source and keyboard. Users can use microSD cards as a storage device.

At the heart of the Raspberry Pi Zero is a 1GHz processor backed up by 512MB of memory. The device has the same computing power as the iPhone 4. The Raspberry Pi Zero also has a mini-HDMI socket so users can play HD videos. The mini-computer also has two MicroUSB ports which users can use to connect other peripherals, according to PC Mag.

The Rapsberry Pi Zero runs on a version of Linux called Raspbian. 

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