Google's modular phone could hit the market for as little as $50 next year

Google's modular phone, now known as Project Ara, could be on sale for as little as $50 next year.

Last fall, the public learned of an internal research team hard at work designing a modular smartphone. Project Ara, led by Advanced Technology and Projects (ATAP) group - a remaining piece of Google's acquisition of Motorola Mobility for $12.5 billion last year, aims to design smartphones out of tiny swappable hardware components.

Still, much remained a secret about the project overseen by ex-director of the Defense Advanced Research Projects Agency (DARPA) Regina Dugan.

Only now are details slowly beginning to emerge.

According to TIME, the modular phones could be available early next year for about the same price as a reasonably nice dinner for two. Maybe it's not totally surprising then that, according to the news outlet, the phone will only have Wi-Fi and no cellular connection, although users will be able to equip the device with add-ons so as to increase its capabilities.

Though there is no revelation yet as to where the phone will be marketed first, TIME said the phone will be available in three sizes - mini, medium and jumbo.

Ara devices will be no thicker than 10mm, bigger than the most recent Apple phone but smaller than the iPhone 3GS and more recent Lumia 1020.

As for the included modules, ATAP plans to disclose details at a series of conferences in April.