The Project Ara smartphone is certainly one of the most promising projects in the mobile world we've had in years. The concept of this project is simple: if the parts of a smartphone can be easily replaced, it will allow consumers to save a lot in the long run. 

And the good thing about this project is that it is rumored to be sold at extremely affordable prices. In previous reports, the base model which does not come with any modules or parts will only cost $50. There are three different sizes and each one will be able to support a specific number of modules.

Given that Project Ara promises replaceable parts and modules, how would it work?

According to a report from GSM Arena, during the Linaro Connect US Conference, the project's team leader announced that the smartphone will feature hot-swapping features. 

Team leader Paul Eremenko stated that users will be able to take out and replace modules even when the phone is turned on. Users can swap for a higher memory (RAM) or storage on the go. If the battery is running low, users can also swap another battery source without turning it off.

That is possible because the Project Ara smartphone has a power reserve, which is pretty neat.

In the report, the only two modules or parts which consumers would not be able to replace on the go are the display and the processor. 

If you are excited in getting this smartphone, it should be announced in January 2015, running the latest version of Android, Android L.