Carphone Warehouse has slashed the price of the mobile phone, in a bid to win customers in the festive period.

The mobile phone seller is stocking a recession-proof pay-as-you-go handset for the measly sum of five pounds. The phone, called the Samsung B130, will sell at this price all the way up to Christmas.

As you would expect from a phone of this price, the mobile is fairly features-free. You won't find anything like a camera built into the device, but if polyphonic ringtones are your thing, then you are in luck. The mobile will even connect to the web.

Credit crunch-busting mobile

Speaking about the price cut, Carphone Warehouse CEO Andrew Harrison said: "As bills are going up we're committed to bringing our customers products they can afford with a credit crunch-busting mobile."

There is a small catch. You have to buy £10 of credit to go with the phone. Still, £15 is still a decent price to pay.