Ringing Bells: The Company Behind Freedom 251 Shuts down and Opens New Company : Report - chaprama | Insights from the world of Technology and Lifestyle


Thursday, December 15, 2016

Ringing Bells: The Company Behind Freedom 251 Shuts down and Opens New Company : Report

Ringing bells the company that yshot to fame when they announced the world's cheapest smartphone for Rs  251 reportedly shut down.This was reported by TeleAnalysis. Earlier this year ringing bells announced Smartphone for Rs 251 that created a buzz among smartphone market. After opening bookings server got shut down attributed to the tsunami of traffic. Initially, it took preorders and collected payment from the customers.

Ringing Bells: The Company Behind Freedom 251 Shuts down and Opens New Company

Later on, it returned the amount paid by the customers and announced that customers can opt for cash on delivery. As a result of which many people booked multiple orders and even received an acknowledgment that promised to deliver the smartphone with in two months of the order.

Initially, the company promised to deliver  2,00,000 units of Freedom 251 smartphone. However, after few days the company came with a statement that assured to deliver 65,000 units to those booked via cash on delivery but was able to deliver only 5000 units. 

Later Mohit Goel, MD of ringing bells made an appeal to the government to help in realizing the idea behind low-cost smartphone and also requested to allocate funds from the digital India initiative.In the meanwhile, the company extended its business into low-cost TVs and smartphones.

Now a report surfaced that claims company has  shut down and opened a new one with the name MDM Electronics Pvt Ltd. According toTeleAnalysis  the board of directors of the new company include Mohit Goel, who is also MD of Ringing Bells, and Shashank Goel and Ashok Chaddha, both of whom  were associated earlier  with Ringing Bells .The report also says that ‘MDM Electronics Pvt Ltd’ is a new company and set up on December 7 ,with its registered office in New Delhi. The official website also stopped working.

Earlier in October,  Ringing bells announced its partnership with Amazon India and promised to make its products available on amazon India that included smartphones Freedom LED TV series, power banks and mobile handsets.

In another controversy, the company was summoned by delhi court for Rs 2 crore cheque bounce case.The cheque was issued in favour of Aryan Infratech Pvt. Ltd. (AIPL) and later bounced due to insufficient funds

In view of all the controversies, it is interesting to see how the government takes action on Ringing bells to further prevent other companies from repeating the same.

Source: BGR

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