Ahem, my cheapie worked in -1 yesterday with no issues.
Electronic components are specified as 0-70C for commercial, -40 to 85C for industrial and -55 to 125C for military, that doesnt mean they stop working outside those ranges, just they are not expected to work. Also most electronic manufacturers make components using the same process for all classifications and then classify them during the test procedure, for commercial reasons once they have the right number for a particular specification they will downgrade components to fill other classifications. So you may well get an commercial component that is really capable of better operation, just down to luck!!.
The battery is the main source of the problem for low temperature operation as it is a chemical reaction and that is temperature dependant, also the length of time at a particular temperature. For example if you keep the device in a pocket and only occasionally get it out to use it has a better chance staying above the ambient temperature, than one left dangling on a cord around your neck or wrist with no other protection.