UPDATE: The Freedom 251 smartphone from Ringing Bells priced at Rs 251!

Ringing Bells, a relatively new local handset manufacturer, has announced a phone called the Freedom 251 that they will be pricing at an unbelievable Rs 251! That’s less that a McDonalds meal, or an evening at the movies at your local multiplex.

The phone is expected to be launched by Defence Minister Manohar Parrikar on 17 February.

Speaking of the phone’s disruptive pricing, the Noida-based company stated, “The Ringing Bells ‘Freedom 251’ launch is in line with Prime Minister Narendra Modi’s vision for empowering India to the last person, transforming India’s growth story.”

Founded last year, the company has already launched one of the country’s cheapest 4G smartphones priced at Rs 2,999, along with two other feature phones. Ringing Bells is aiming at full indigenous production of the phones over time.

Details of the phone have just been released: a 4-inch WVGA IPS screen, 1.3GHz Quad-core processor, 1GB RAM, 8GB internal storage, dual SIM 3G cellular, a 3.2MP rear camera and 0.3MP front camera, all running on Android 5.1 Lollipop.

This launch sets a new benchmark in terms of smartphone affordability in the Indian market which happens to be on the verge of surpassing the US to become the second-largest global mobile market, and bodes well the Prime Minister Narendra Modi’s Make In India initiative.