Freedom 251 phone manufacturer Ringing Bells shutting down?

New Delhi: They came with a bang following the launch of Freedom 251, the world's cheapest smartphone. But what followed the manufacturer, Ringing Bells, were controversies.

Reportedly, seven crore registered for the device within the first day itself. However, the company failed to meet the delivery date with some event alleging it to be a scam.

The government, Income Tax department came calling, warning the company to meet its deadline.

Now, the latest controversy surrounding the company is that it is reportedly shutting down.

A report in TeleAnalysis on Thursday claimed that Ringing Bells owners have shut down the company and opened a new firm named MDM Electronics Private Limited which is registered in Kailash Colony in New Delhi.

Reports further stated that CEO of the company, Dharna Goel, who played a vital role in setting up the company and launching the Freedom 251 smartphone, had also quit the company.

Ringing Bells, however, refuted any reports about closing down the company and rejected any speculations that it has shifted its operations to a new company call MDM Electronics.

Instead, the company informed it had delivered 70,000 units of Freedom 251 smartphones and that it was ready to deliver more.

The company, however, approved that Dharna Goel has left the company and that Anmol Goel would replace him.

“Now Anmol Goel, who is also one of the founder directors, is looking after the affairs of the company,” the company said in a statement.