Google Inc (NASDAQ:GOOG) launched the Android 1 initiative on Wednesday at Google I/O. This initiative is designed for manufacturers to develop a high quality low cost device. This initiative is set to enter the Indian market this fall, with a possible Global roll out to follow soon. Indian mobile market is considered as one of the fastest growing mobile markets in the world.

This Google Android One launch would enable the manufacturers to build Android Smartphones in the sub $100 range. Google is working with at least three Indian Manufacturers in the same initiative which would help the manufacturers get some basic reference points for device features on the low cost phones.

Micromax, Spice and Karbonn have been speculated as the three manufacturers who would roll out these low cost high quality Android smartphones. On another front, Google will unveil a new television set-top box on Wednesday as it races Amazon, Apple and others to control digital content in the home, according to Scott Austin from the Wall Street Journal MoneyBeat.

Impact of the Android One initiative on Google stock (NASDAQ:GOOG)

The Smart Phone is set to have features like a 4.5 inch screen, SD card, Dual Sim and FM Radio. Like other Google products, Android One would have regular Google Software Updates.

This would help the customers to get the newest Android version, something which was not possible without Android One. Google would be hoping to emulate the success of Moto E which was priced in around the same range.

Google said that there are now 1 billion Android Users. Google have claimed that they will aim for the users who cannot afford to buy the smartphones at current prices. Android One is set to be a huge step in this process, with India providing a perfect base for the launch.

Google stock financial news (NASDAQ:GOOG)

Google Inc (NASDAQ:GOOG) has a positive outlook with a BUY consensus rating. The NASDAQ:GOOG stock has a 52-week range of $502.80 to $604.83. With such Initiatives being taken by Google, we may see further upside on the stock, with a price target of around $660.

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