A China service provider is looking for IP phone under 120 RMB. I asked one of our customers if they can handle the business. The answer was, the target price could almost be true if AR1688 is free.
Then I began to think how much a low cost PSTN phone is. Here is the answer after a few hours in the market today: 20 RMB can buy a phone without LCD and 25 can buy a phone with LCD.
Here is the 20 RMB phone photo: