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Freedom 251: Company starts refunding money after negative guesses

Ringing Bells, a Noida-based company which was in news for selling the world's cheapest smartphone 'Freedom 251', has started refunding money to customers due to the negative talks about its claim.

"There was a lot of negativity around us so we have decided to take money from customers only after delivering phones to them. We are refunding money to those who have paid for booking the phones and giving them an option of cash on delivery", Ringing Bells Director Mohit Goel said.

"We don't want customers' money initially. We have investors to back our project. There is a business model to justify the price. We have a foolproof plan and to whomsoever we have disclosed it has agreed to it. I don't want to disclose full details as of now", Goel said.

The delivery of phones is likely to start in April following which the company will start the second round of bookings.

Bookings were made in large numbers as about 30,000 people paid for booking the phones and more than 7 crore people registered for it. Meanwhile, some politicians and others expressed their doubt on the cheapest smartphone.

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