Guess! How much profit Ringing Bells would make on each Freedom 251 sold?
The Freedom 251 smartphone is not only the cheapest smartphone in the world, there is nothing phony about its sales, assert officials of Ringing Bells.
Zee Media Bureau
New Delhi: The Freedom 251 smartphone is not only the cheapest smartphone in the world, there is nothing phony about its sales, asserted Mohit Goel of Ringing Bells, the company behind the launch of Freedom 251.
Speaking to The Times of India, Mohit Goel, Director of Ringing Bells said that the company will not only deliver the phones at the low price quoted, but also make a profit of Rs 31 on each handset sold.
Ashok Chadha, President of the company and Goel told TOI that not just economies of scale, even the online sales model, and revenue from companies whose applications will be loaded on the device, will help in cutting down cost, and make profit.
The duo shared that Ringing Bells is talking to large e-commerce companies to get their apps on the devices.
The company insists that Freedom 251 does not infringe on the design of any other brand, and explained that some of the devices which had the Adcom branding was due to the fact that panel screens were sourced from Adcom.
However, the final device will have the same features and design that have been showcased. The device will be sourced from a supplier in Noida, who will be assembling the units for the company after getting components from Taiwan, added the company executive.
The dual SIM Freedom 251 device carries a 4-inch display, 1 GB RAM, 8GB internal memory with a 1.3 GHZ quad-core processor, dual cameras and comes with a charger, headphone and one-year warranty.
The company who has recorded 7 crore online registrations for Freedom 251, is yet to identify land and suppliers for setting up manufacturing locations. The company will be able to deliver only 25 lakh phones booked online in the first batch due to limited supplies, while another 25 lakh through offline distributors. The handsets will be delivered before June 30.
All the money that has been received from customers through the payment gateway will be kept in an escrow account and will be touched only when the devices will be delivered, quoting Goel, the report added.