Google is working on a modular smartphone project called Project Ara, which aims to revolutionize the smartphone industry. The project has been in development for some time, with some outlets suggesting it may be available soon, possibly for a price as low as $50, while others note that it has been in the works for 10 years without a replacement for existing phones. The expected release time for the phone is unclear, with some reports indicating it could arrive within a year or as early as the first quarter of 2015.