http://www.rcgroups.com/forums/showthread.php?t=1640357

The guy was the technical partner in the original XPS company, then he parted ways, and brought the company. 

He says he can build this radio with 32 outputs and 16 inputs, and still sell it at less $300 and make a decent margin, simply because the established players are making too much profit.  When you go from an 8channel to a 12 channel Futaba/Spektrum/JR/Hitec etc, the incremental increase in production cost per unit is very low, compared to the margin they are adding on.

And the cheapest receivers are around $30. The receivers have 6 to 10 channels and they can be "chained from one to another" to go up to all 32 channels, where the first one sort of acts as a master.  All channels are assignable etc etc.

Current status seems to be that hardware and RF is complete, firmware is being finalized.

lovely. I am going to follow this thread diligently. I've setup similar challenges for myself but the biggest one would be not to exceed 10K on the price. I feel the kind of guys we have amongst ourselves, if we work in tandem, there is a high chance of this record can be beaten. I totally agree with him on his "double the margins theory" but bigger companies have warranties and office expenses and so much to deal with. The electronics and fw part sure does not cost diamonds.