This phone is expected in India in a month or two... its priced around $200 USD off contract in Australia, New Zealand, Singapore... Hoping that it will launch in India for less than 15k...
This device runs Froyo (Android 2.2)
An 800MHz Qualcomm MSM7230 CPU
a 3.8-inch 800 x 480 capacitive touchscreen (16.7 million colors)
a 5 megapixel camera with 720p HD video recording
a VGA front-facing camera
FM Radio
Flash 10.1
SWYPE input
It also provides 4GB of internal storage, and includes the usual array of HSPA, WiFi, Bluetooth, and GPS radios, all powered by a 1500mAh battery.
Here is its video preview by PhoneArena...
Worth waiting for...