Default is it possible to install new OS on this chinese phone?

before i dig any deeper i just want to make sure if it's even possible

here's the specifications from the "About phone":

Model number: W1169
Android version: 4.4.4
Baseband version: MT6589
Kernel version: Quad-Core Armv 7 Processor
Build number: DG613_Y430_OLEDE_V1.0.5|2013-11-0821:36:07|public-user
Hardware version: MT6589