New Delhi: The technology has once again created stir in the market, and this time it's not Facebook or Google but an unheard Indian company 'Ringing Bells'.
This startup firm from Noida has launched the world's cheapest smartphone 'Freedom 251' at a throw away price of Rs 251. Even though its priced cheaply, the smartphone does not compromise on its features.
The strategy to lure the price-concerned audience has pretty much worked in the case of Ringing Bells, so much so that the website crashed within few hours of launching the website. Though the price has raised an interest among the buyers, the crashed website and much lower rates have raised equal questions upon its credibility.
The biggest question that everybody stumbles upon is that how does the company can afford to produce such a low-priced smartphones, and how they are going to earn money?
As per the ICA reports, the subsidised cost production of the company is estimated to be around Rs 3500, and thus they have raised their concern against the cheap selling price. Clearing upon the doubts, the company has said that they are incurring losses on Rs 251 priced smartphone, but they company eyes to recover the same by not importing the smartphone. The company directors are counting upon the economies of scale to reduce the unit cost production, and better marketing techniques to curb the losses in near future.
Another question that has been moving around is about the credibility of the phone. According to media reports, Ringing Bells' Freedom 251 is not BIS approved. In such circumstances, where the hi-tech smartphone is available at throwaway prices and the website has crashed within hours of launch, the credibility of the company along with its phone is at stake.
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