Huawei IDEOS U8150

This unlocked Android 2.2 (Froyo) smartphone is now selling at AUD$179 until end of January 2011 at Dick Smith in Australia. It supports USB tethering and certified WPA2 wi-fi hotspot and is cheaper than any unlocked mobile broadband sharing devices.

Factory data reset (Erases all data on phone)

1. Power on phone
   
2. Settings -> Privacy -> Factory data reset -> Reset phone

or

1. Power off phone
2. Hold Volume up key, Send (green) key & power on phone
3. Release keys when you see Android system recovery menu
4. Select wipe data/factory reset
5. Select reboot system now