The Xperia ZL is the slightly less capable alternative to the Sony Xperia Z. It lacks the water resistance and probably doesn't look as good as its more expensive sibling, but it may be a good budget option all the same.
Check out the video review of the Sony Xperia ZL which follows:
You can check out a detailed review along with an unboxing of the Sony Xperia ZL on PhoneArena.