It was another morning and all the newspapers and daily magazines were filled with the advertisement of the world’s cheapest smartphone, Freedom 251. Smartphone in Rs251, wow… around 8 crore Indians paid the money to grab the phone first.
We Indians have a tendency of taking advantage of every Breathtaking action and the same happened with Freedom251. I am pretty sure that one day if someone will say that Tajmahal is on sale then most of us will be ready to place our bids on Tajmahal as well. In India, Everything is possible.
Ringing Bells, A Noida based company created an uproar in the world at that time when they offered the world’s cheapest smartphone. Even the media was compelled to cover the news about the so-called world’s cheapest smartphone. No one enquired that technically, it is possible or not. Is it reasonable that you are getting a smartphone with features like 1GB RAM, 1.3GHz Quadcore Processor, 8GB internal memory and much more in just Rs251?
You Will Not Go To The Court even If You Will Not Get This World’s Cheapest Smartphone Delivered to you Because…
As per the media reports, Ringing Bells, The company has 7.35 Crore advance bookings for Freedom251. Initially, these orders were booked on the basis of advance payment but then after some charge on the intention of the company, they changed the advance payment to Cash On Delivery. Okay, Now we don’t have any official data about the payments but let’s assume that company has already received the payment of 4crore Orders out of 8crore (approx).
Total Advance Booking – 4 Crore
Total Payment received – 1004 Crore (251X 4Crore)
Interest on 1 Lakh (p/m) – 900 Rs
Interest Of 1 Crore – 90 Thousand Rs
Interest on 1004 Crore (p/m)- 9.03 Crore Rs
It means that company is earning minimum 9.03 Crore on placing the money in the bank. The interest from the bank on this huge amount is the lowest one in the business world. At the same time, You can earn much more investing your money in Stock Market, Real Estate, Commodity market and gold.
In these conditions, Even if you will not get your smartphone, you will not go to the court as you have only paid 251rs and the expense will be much more than this. Also, I don’t think that anyone is having enough time to waste for just 251rs.
Conclusion: the company claiming the world’s cheapest smartphone in 251rs is successful in every situation. They have already earned that enough that they can even return your money now.