The Venezuelan President Hugo Chavez has confirmed the launch of the world’s cheapest phone. Dubbed as the El Vergatario, the phone will feature an MP3 Player, an FM player, and a camera. Priced at approx. $14, the phone will be made at the Venezuelan Telecommunications Factory which is a joint venture between the state, and the Chinese manufacturer ZTE, splitting 85% for state and 15% for ZTE. Stay tuned for more updates. [Newlaunches]
