The phrase "similar specs" means that two or more things have comparable or almost identical features, characteristics, or specifications. Full definition
Yes, there are devices with similar specs and lower price tags — such as the Moto G5 Plus or the Moto Z2 Play. (digitaltrends.com)
I really don't see this device selling out through T - mobile with that price, specially when customers have other devices that offer similar specs and appeal at a much lower price. (berryreview.com)
Both the device will come with dual rear camera setup and also feature similar specs sheet except for the display size. (phoneradar.com)