Most of the Emerging markets are shifting to smartphones but those are not able provide the experience of smartphone fluidly hence Google stepped up the game by launching Android One.
Android One is basically a reference design i.e set of hardware internals and if those set of internals are present in company smartphone Google will take care of software updates just like it does for Nexus Devices.
|Micromax Android One|
Whats more interesting is affordability of these devices as these will be priced less that 100$ i.e around ₹ 6000. Google has partnered with Micromax to launch first Android One device and soon Karbonn and Spice will join the Android One platform.
Google if delivers the promise of fast updates then Android One will just kill the other Smartphones so its better for consumers and bad for companies as they need to push updates fast and if not Android One devices will dominate the market.