Android One is a plan by Google that aims to make very cheap Android available to markets that the purchasing power for new smartphones is not that high.
In the context of the new project, her partners companytogether with OEMs to create very competitively priced smartphones running on the Android mobile platform. 
Google's Southeast Asia CEO Rajan Anandan says the company is going to present a new plan for Android One in the next few weeks, and this time it's aimed at creating smartphones that cost 50 dollars. The disposal of these devices is rather geared for Asian countries.
That price will make Android very affordable in emerging markets, and cheap smartphones will help realize Google's big goal of making the next billion users of Android.
Although Google does not build the hardware to be used in the Android One project, it appears that it has commissioned OEMs to set standards to enable low cost devices to be launched.
Anandan told the Financial Times that Google is quite "committed" to the Android One project and that new low-cost devices will be unveiled in the coming weeks.
https://www.youtube.com/watch?v=X7UPR9z3OV8
