Company Name : Ringing Bells,Indian company
Model Name :Freedom 251
Price:251 rs (3.7 Dollars)
Status : Booking Closed ( In Future Phase 2)
Over 7 Crore people have already registered for the smartphone and over 30,000 have already paid for the phone.
The smartphone launch created headlines on everywhere media website,also international making everyone curiosity how a smartphone can cost practically nothing, when a mid-range smartphone with similar features costs 20 times more.
Company’s officials claim Ringing Bells will make a profit of Rs. 31 (0.5 Dollars) on every smartphone sold, if economy of scale is accounted for. Telecom Ministry remained skeptic of the smartphone company and there were even Income Tax raids at their office in Noida.
However, nothing specific surfaced and everything seemed too good to be true.
PayU, an expert in online payment that provides payment solutions, has come to the rescue of these customers. PayU had partnered with Ringing Bells to collect and direct all payments to their account, however as of now all the collected money has been put in an escrow account which cannot be accessed by Ringing Bells.
Government’s role in this
In a pile of existing scams, one that the Government feels can be disastrous for people of the country is the Freedom 251 phone, if and only if they fail to live up to their promise. A panel has been chosen to further delve into the creation of a smartphone, which costs less than a meal at a small restaurant.
If you have already paid for the phone online, do not worry, you money is relatively safe with PayU and the Government is already looking into the company’s claims. It is very much possible that the handset will be delivered, considering the prototypes received lived up to the expectation. It is interesting to note that although bookings have been closed, there are still consumers who want to get their hands on the cheapest smartphone in the world, a title which could not have reached a new low.