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PepsiCo has adopted the crowdfunding route for its branded smartphone. There are still 10 days more to go and the company needs to earn ¥3 Million, that loosely converts to about $470,000. When launched, the Chinese consumers will be able to reserve this new phone for ¥999 via the crowdfunding site. PepsiCo, the soft drink manufacturer, confirmed its plans for a phone in October. The company spokesperson said, "Pepsi has always moved at the speed of culture, and today technology is a key cultural pillar at the heart of consumer interaction," reports PC Mag.

The P1 will be sport a 5.5-inch screen 1080p resolution that comes with 1.7 GHz MT6592 SoC, 2GB RAM and internal storage of 16 GB. Additionally, it will be equipped with a 13-MP rear camera and 5-MP front camera. According to FoneArena, the phone will also be equipped with an Android based operating system called dido, aluminum body and fingerprint sensor at the back. There will also be a provision of 4G LTE connection with dual SIM functionality. The colors available will be blue, silver and gold.

With the confirmation of smart phone plans, the world wonders if the beverage giant will now diversify into the smartphone business. However, for now, the company has confirmed that it is only licensing its brand name to the Chinese company Shenzhen Scooby Communication Equipment Co, the company responsible for the manufacturing of P1. The price of the handset will be around ¥999 until 1000 units are sold. After this mark has been achieved, the phone will be available for ¥1,299 (approx. $204). The crowdfunding campaign will conclude on 3^rd December. The early units priced at $78 have already been sold out and after all the $110 units are gone, the buyers will have to pay $156 for the same handset, reports Yibalda.