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There's at least a dozen no-contract android phones under $300 on Newegg:

I think the idea is that those phones are not as sophisticated, despite being cheaper.

But they don't have dual core 1.5 Ghz chips in them.

Yes, but they're cheaper. So for $300, you pay for what you get. I'm not even sure if this news warrants a headline on HN.

No, you don't. Compare with current dual core models.

What's the cost of

- Samsung Galaxy S II

- LG Optimus 2x (or Optimus Speed, depending on location)

for you? Both are recent dual core models, the latter is the cheaper one (I own that one and payed more than $300 and thought it a bargain).