President of the Ross Electronica Russia company has announced plans to issue a Russian smartphone similar to iPhone with same quality, but seven times cheaper.
The head of the local company said the so called new iPhone will be available later in 2018 for of about 8,500 Russian rubles which is about $ 130.
The Russian company Sputnik  indicated that latest model of US iPhone 7 with 32 GB is about $ 1,000, while the real costs of the Russian model is estimated to be only $220.
The company is seeking, according to its president to produce its own operating system, but if they face difficulties they will use Android and Taiwanese or Chines made chips.
Most likely is it too good to be true as the biggest the competitor of iPHone, Samsung is barley competing with Apple.