Meet the $7 smartwatch

The Apple Watch will sell for $349 when it hits stores next year. Motorola’s Moto 360 goes for $249 and Samsung’s smartwatch, the Galaxy Gear, starts at $199.

Now, a Chinese company wants to sell you one for $7.

Fastfox, a technology startup, says keeping software simple and hardware minimal lets them offer a smart wristband starting at prices nowhere near their fancier counterparts in the growing wearable-tech space.

The company has launched a campaign to release the watches on Australian crowdfunding site Pozible. They offered 100 of the wristbands at $7. All of those have been snapped up, but donors can still get a black Fastfox watch for $8. And for $9, they can get a Fastfox in the color and design of their choice.

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