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Freedom 251 India's $4 smartphone declared a Ponzi scam

The manufacturer, Ringing Bells Pvt. Ltd., announced on its website that it is not taking new orders for the phone:

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play The manufacturer, Ringing Bells Pvt. Ltd., announced on its website that it is not taking new orders for the phone:
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The Freedom 251 is a 3G Android handset with a 4-inch display screen, a Qualcomm 1.3-GHz quad-core processor and 1 GB RAM.

It was presented a few weeks ago in India for the very super low cost of 251 rupees (US$3.67). It sounds like an awesome arrangement for a large number of individuals who couldn't generally bear the cost of an advanced mobile phone.

Yet, India MP Kirit Somaiya says he's investigated the minimally known organization that makes the telephone and says they're Ponzi scammers.

This is a huge scam, that is why I went through all the papers of the company. The government has informed Uttar Pradesh government to check the bonafide of the promoter. This is a Ponzi bogus company scam,” Somaiya told ANI. [Indian Express]

On Twitter, @Joydas posted photographs of the Freedom 251, calling it a "Chinese Smartphone. Whitener used to Hide Name. Sold in garb of Narendra Modi's "Make in India" campaign."

 

The manufacturer, Ringing Bells Pvt. Ltd., announced on its website that it is not taking new orders for the phone:

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