India's Ringing Bells' Freedom 251 is going to sell for  ?251 or US$3.60. The spec is not that bad either.

It is a 4-inch qHD (960 x 540) display, 1.3GHz quad-core CPU, 1GB of RAM, 8GB internal memory, microSD slot, 3.2MP camera, 0.3MP front shooter, 3G connectivity, WiFi 802.11 b/g/n, Bluetooth, GPS, and a 1450mAh battery. It has Android 5.1 Lollipop.

It is not clear how Ringing Bells got the price that cheap even with subsidised manufacturing from Indian government. The Freedom 251 also comes with a one-year warranty. Ringing Bells is starting registrations starting tomorrow.  When we had a look at its site it was a little overloaded.