Ringing Bells will import first 50 lakh smartphones, says government official

As reported earlier, makers of the world’s cheapest smartphone, Ringing Bells were to meet Telecom Minister Ravi Shankar Prasad and other officials from the department of telecommunications regarding the pricing of their device Freedom 251. A government official has stated that the company will import the first 50 lakh smartphones, as pointed out by  The Hindu. The company promises to deliver the first 50 lakh devices by June 30 out of which, 25 lakh will be online orders while the other 25 lakh would be those received offline respectively. Ringing Bells President Ashok Chaddha and Promoter Mohit Goel also explained their ‘business model’ during the meeting held with he Department of Electronics and IT (DeitY) officials. The company also has plans to set up at least two manufacturing plants in the next 6-8 months with an initial investment of Rs 350 crore. According to a previous  report, Communications and IT Minister Ravi Shankar Prasad had asked IT Secretary Aruna Sharma to check the credentials and claims of the company, Ringing Bells, after it made the offer. The ministry has asked Sharma to seek help from state chief secretaries wherever needed as well. The ministry official also said during the meeting that the company has confirmed that they have received a payment for 30,000 handsets, which has been parked in an escrow account.