How does a flashing cell phone charm work?

I purchased a cell phone charm that flashes when I turn on my cell phone and is supposed to flash when I get a call (I haven’t had time to test it yet, but I know it flashes when my cell phone comes on).

How does this work? I don’t see any sort of way to open the charm up to replace any sort of battery…will it eventually go bad or do they generally last a long time?

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