Android One is a set of standard configurations and runs on the original Android with low cost, high performance. Manufacturers will design the device and Google takes care of its Firmware updates. In order to successfully launch a low-cost device, Google will work with chip maker Mediatek.
If you remember, a Mediatek device running Android One was introduced at the event from the Indian manufacturer: Micromax. This device costs less than 100 USD, runs on MediaTek MT6575 SoC processor, 4.5 inch screen, supports 2 SIM, external memory card and FM Radio.
Android One may be a big bet for Google in the second half of this year, will they be able to change the world cheap market, where smart devices running WP are dominating? Let's wait and see.