"Freedom 251," World's cheapest smartphone launched in India for 251rs.

[Ankur.]

 

[iPwnz]

I never thought about the bank interest part. Damn!
I wish I had known about this earlier. So easy.

 

[Criminal]

^^ lots of desis use this technique already... a-holes at shopyourworld.com have been doing it for years. they don't deliver products priced over Rs 10K and return the money after 1 year. they randomly fulfill few orders to keep negative reviews in check.

there are many such websites.

it looks like idiots at freedom251 don't know how to run such scams... shame on them

 

[rkkaranrk]

I never thought about the bank interest part. Damn!
I wish I had known about this earlier. So easy.

You missing the advertisement part they must have spent way more then 6Cr on newspapers adds.

 

[Lord Nemesis]

^^ lots of desis use this technique already...

Strategies to earn interest income is a lot more common than you think. A lot of businesses have been doing it for a lot of things. Heck, for instance EPF account deposits are expected to be made by the employer in a timely periodic manner. However companies like Wipro and a few others were caught not paying the money in periodic manner. They were holding the money in bank accounts to earn interest and making payments before the year end. This results in employees getting less interest for their EPF accounts while the companies themselves are earning interest. EPFO put an end to it by penalizing the errant companies.

 

[iPwnz]

Please share more ideas guys. Will use them for a new revenue start-up.

 

[Arv90]

Same applies to stock exchanges who collect deposit money from big brokers.
The amount runs into 100's of crores per broker depending on the number of sub brokers the root broker will have,
Worked for a derivative exchange, so I know quite a few big players.

 

[Demon_Ryu]

My friend told me that payment email never came

 

[swatkats]

Same techniques like Hayai Broadband.

Show big when there's nothing and attract investors. As an Next Generation Low end phone maker.

 

[iPwnz]

Meanwhile the people here still thinks this is legit. Sigh.

 

[seshu]

^ someone from Noida / UP should file a PIL ..

 

[ssslayer]

You are assuming that there is a step called "return the money".
I would change the caption to: Make 145 crores in 1 month

 

[scott1391990]

Dad asked me to book 3-4 phones for his office workers and I agreed hesitantly.
On the booking day, I didn't. And he asked if I did it and I was like, I may be unemployed and also unemployable but I am no stupid. Of course I didn't say the exact words but it was in my mind.

 

[iPwnz]

Ringing Bells to face action if it fails to deliver Rs 251 phone: Ravi Shankar Prasad
http://economictimes.com/industry/t...-ravi-shankar-prasad/articleshow/51108443.cms
Will they?

 

[Patrick Bateman]

Bhai Log.... Wo 251/- wala mobile mat kharidna... Koi keh raha tha uski resale value acchi nai he...

O bhai,resale ke chood ;dispose off the mobile after a month

Flagship kutta costs 50,000
251/50000 thats 18 years of new smartphone every month

After that i will launch Freedom 125 and have monopoly over IT market

 

[ssslayer]

Ringing Bells to face action if it fails to deliver Rs 251 phone: Ravi Shankar Prasad
http://economictimes.com/industry/t...-ravi-shankar-prasad/articleshow/51108443.cms
Will they?

Oh really?
How many such legal actions have been initiated and decided in the Independent India till now?

 

[Akhilesh Singh]

251 phone is too good to be true, but getting away with a scam without very powerful behind your back is becoming difficult these days. Unless they buy out both media as well as the government they may not escape easily. With BJP already on backfoot on almost all fronts, inviting a new front for assaults from other parties might not be on their mind right now.

Its wait and watch for now.

Whatever the outcome, by this escapade Ringing Bells were able to create one of the biggest marketing hype in the whole world.

 

[rakesh_ic]

O bhai,resale ke chood ;dispose off the mobile after a month

Flagship kutta costs 50,000
251/50000 thats 18 years of new smartphone every month

After that i will launch Freedom 125 and have monopoly over IT market

hmm sarcasm is not easily understood @prash2k01

 

[swatkats]

The Enforcement Directorate (ED), after questioning the Ringing Bells CEO Mohit Goel for hours on 29 February, said that Freedom 251 could have been yet another Ponzi scam. By intiating a probe in time, the agency claims that they have succeeded in safeguarding consumers’ money. The ED recorded hours of Goel’s testimony over 2 days. The probe is on under the Foreign Exchange Management Act (FEMA) Act.

Ringing Bells certainly misled people by quoting price as low as Rs 251. Mohit Goel appears to be a publicity-hungry person who thought that if he comes out with an unusual scheme, he will catch the eyeballs of the people as well of media.

We have averted yet another Ponzi scam. It appears that they planned to produce fake receipts to CCAvenue showing delivery of phones to withdraw money from escrow account.

Senior official, Enforcement Directorate

http://www.thequint.com/india/2016/03/01/freedom-251-averted-scam-ceo-goel-publicity-hungry-says-ed

 

[Stuge]

Dad asked me to book 3-4 phones for his office workers and I agreed hesitantly.
On the booking day, I didn't. And he asked if I did it and I was like, I may be unemployed and also unemployable but I am no stupid. Of course I didn't say the exact words but it was in my mind.

lol