If you thought the recently launched OnePlus 3 was good value for money, it might be time to reconsider your view of the term 'affordable'.
Earlier this year Indian company Ringing Bells launched a $4/£3 smartphone, prompting many to claim it was a scam.
But the Freedom 251, so-named for the amount of Indian rupees it takes to buy one, is seemingly ready to go on sale, complete with some pretty decent specs, considering the price.
Ringing Bells founder and CEO Mohit Goel told the Indian Express: "We are ready with nearly two lakh [200,000] 'Freedom 251' handsets. We will start delivery from June 30."
So what will £3 get you? The Freedom 251 comes with a modest 1.3GHz quad core processor, 1GB RAM, and 8GB of internal memory which is expandable up to 32GB.
There's also a 960 x 540 screen, 8-megapixel rear camera, and 3.2-megapixel front-facing lens, as well as a 1,800mAh battery.
And finally, the Freedom 251 will run Android 5.1 Lollipop and comes in two colours: black and white.
Hardly top-end specs, but for less than the price of a latte, we're not complaining, and we're sure Indians aren't either.
Goel admitted his company is taking a loss on the handsets at the moment, but told the Indian Express he is happy to be 'connecting rural and poor Indians'.
It should be noted that the phone is yet to materialise in any significant capacity beyond highly restricted press demos.
But, if Goel and his company can deliver a decent user experience with the Freedom 251, those rural Indians he and his company are so eager to connect will finally have an affordable way to join the tech age.
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Is the Freedom 251 too good to be true? Let us know what you think in the comments.