At an event in London, Motorola has unveiled the Moto E. It isn't the best smartphone, or the fastest, or even the lightest -- but it probably is the best, fastest, and lightest phone that you can buy for its fantastically low, off-contract-SIM-free-no-subsidy price of just $130. At that price point, Motorola believes it has finally created a smartphone that is cheap enough to deliver a killing blow to the feature phone, which still commands 60% of the US's mobile phone market (70% globally). Motorola, which competes with other small-time phone vendors like LG and HTC for Samsung's Android scraps, could really do with a runaway hit device right about now.