Will make profit of Rs 31 on each Rs 251 Smartphone: Mohit Goel

February 22, 2016

New Delhi, Feb 22: Since he announced the launch of a mobile phone for Rs 251, Mohit Goel has faced widespread scepticism, along with visits by police and income tax officials at his rented two-storey office in Noida. However, the Amity University graduate insists that he will not only deliver the phones at the stunning price he has quoted, but also make a profit of Rs 31 on each handset sold.

mohith1"Why am I being hounded? What wrong have I done?" Goel asked in the course of an exclusive interview with TOI. The director of Ringing Bells insists that his new venture is not a fly-by-night operation and will begin customer deliveries from April 15. "Has there ever been a case of income-tax evasion against me or my company, or has there been an FIR filed against me in any police station? Why am I being called a 'bhagora' (who'll run away with the money)? I intend to do a valid business, just like any other startup, and I have a business plan ready."

The company claims it has received over 7 crore registrations on its website since it started accepting applications on February 18. "We are taking online bookings for only 25 lakh units in the first batch due to limited supplies, while giving another 25 lakh through offline distributors. I will deliver the handsets before June 30. All the money that we receive from customers through the payment gateway will be kept in an escrow account and we will touch it only when we deliver the devices." The company has an account with ICICI Bank.

Goel, and his much-older confidant Ashok Chadha, who is the president of the company, insists that there have not been any infringements on design and other matters. "Some of the devices had the Adcom branding as we sourced panel (screen) from them. However, the final device will have our branding and the phone will have the same features and design that we had showcased."

The dual SIM Freedom 251 device carries a 4-inch display, 1 GB RAM, 8GB internal memory with a 1.3 GHZ quad-core processor, dual cameras and comes with a charger, headphone and one-year warranty.

The duo say that they have a carefully laid-out business model to manage the disruptive price for the device "The price that works out per device is roughly around Rs 1,500," Chadha says. insists, though significantly lowering it down from the Rs 2,500 he had announced on the day of the unveiling of the device. "We will source the devices from a supplier in Noida, who will be assembling the units for us after getting components from Taiwan." And while we do this, we also start the work to identify land and suppliers for setting up our manufacturing locations. For this, we have identified Noida while also looking at locations in Uttarakhand, West Bengal, Bihar and Punjab," Chadha says.

And just how does he bring down the cost to Rs 251, and also earn a profit? "Economies of scale gets it down to around Rs 1,200, and thereafter an online sales model cuts down marketing and sales expenses, giving us further savings," he says. And to this we will add marketing piggybacks from companies whose applications we load on the devices. We will save around Rs 300 per device more through this," Chadha says.

The unveiling of the phone on February 17 had created quite a flutter among existing handset suppliers, prompting industry body Indian Cellular Association to file a complaint with the government. (ICA) - which has members such as Samsung, Apple, Sony, Lava, Micromax, Karbonn, Motorola and HTC - ICA president Pankaj Mohindroo wrote a letter to telecom minister Ravi Shankar Prasad, expressing doubts about the intentions of Ringing Bells, saying it is not possible to supply a phone for Rs 251. Also, there were allegations that the company had ripped off the design of the prototype from American phone major Apple's iPhone, while also giving out devices sourced from a local electronics importer Adcom.

The company is also talking to large e-commerce companies, such as travel website Goibibo, to get their apps on the devices. "We will also monetize from the heavy traffic on our website and will make it into a marketplace for other brands to hop on. This will also help us to bring down the cost."

Comments

rampa
 - 
Monday, 22 Feb 2016

I think battery only original.

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 13,2020

Mandya, Jun 13: Degree colleges will begin classes after the lockdown is lifted and dates for examinations will be announced later, said deputy chief minister CR Ashwath Narayan on Friday.

Speaking at College of Agriculture, Mandya (VC Farm) on Friday, Ashwath Narayan said the lockdown will be completely phased out on June 30 and degree colleges will begin classes after that. “We will speak with all stakeholders to chalk out measures as to how to reopen degree colleges amidst coronavirus scare. All students must continue their studies and be prepared for exams,” he said.

Narayan said the cabinet has approved to upgrade VC Farm as a university and an ordinance will soon be promulgated in this regard. “There is a need to change the present curriculum to meet present day requirements. VC Farm will be made into a world class agriculture university and a vice chancellor will be appointed,” he said.

“Apart from traditional education, we must concentrate on skill-based education as it should create more job opportunities. We are committed to establish more skill-based educational institutes in Mandya district,” Narayan said.

Later Narayan visited Shivaragudda near Maddur and inspected 48 acres of government land which could be used for establishing skill-based education institutions. “This land was earlier used for imparting skill-based education in a collaboration with Denmark. Sir M Visvesvaraya had established skill-based institutions here in 1923 and now they have become defunct. The then prime minister of Denmark had inaugurated this century old institution. We will revive it and this will help local youths,” he said.

‘Ticket promised only to R Shankar’

When asked, Narayan said R Shankar, who quit the Congress-JD(S) coalition and joined BJP will be given a party ticket to contest the legislative council election. “Except Shankar, the high command did not promise council tickets to those who quit congress and JD(S) and joined our party. It is true that there is hectic lobbying in BJP to get tickets,” he said.

Comments

Tejashwini
 - 
Friday, 24 Jul 2020

Sir when does degree clg gets reopen  in karnataka

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 12,2020

New Delhi, May 12: Minorities are "flourishing" in India and have been an equal partner in development without discrimination under the Modi government, Union Minister Mukhtar Abbas Naqvi said on Tuesday, dismissing allegations of Islamophobia as an attempt to defame the country.

The "Narendra Modi phobia club” has been unable to digest the inclusive growth under the prime minister and is engaged in a "nefarious campaign" in India and abroad through fake propaganda alleging "intolerance, communalism and discrimination" against minorities in India, Naqvi said.

In a blog titled "Islamophobia -- Bogey of Bogus Bashing Brigade", the minority affairs minister argued that the "Modi phobia club" is playing the “Islamophobia card" to harm the pluralistic fabric of India, but will not succeed.

Naqvi's remarks come days after a wave of angry reactions on Twitter by citizens and rights activists from various Arab countries following allegations that Muslims are being blamed for spreading COVID-19 in parts of India.

Also, the 57-member prominent international Mulim grouping, the Organisation of Islamic Cooperation, recently accused India of "Islamophobia".

India has dismissed all such allegations.

"Minorities in India are flourishing equally with all the citizens with a sense of equality, security and prosperity. Misinformation against such a gracious and tolerant country and its effective leadership is nothing but the height of ignorance and mental bankruptcy," Naqvi said.

He claimed that no riot took place in last 5 years of the Modi government and it was after "nefarious preaching" by those who were irked by this that the Delhi riots happened.

Naqvi said the women who sat on protests at Shaheen Bagh cannot be termed "anti-nationals" but they had been "misguided by the bogus bashing brigade”.

This brigade pushed these women on a path which had an “entry gate” but no “exit gate”, the minister said.

This was a “calculated conspiracy” by the brigade that wants to defame and disgrace Modi and India, Naqvi said.

He also argued that for the "first time since Independence", India has forged close and strong ties with nearly all Islamic nations and countries such as Saudi Arabia, the UAE, Afghanistan, Russia, Palestine, Mauritius and the Maldives have conferred Modi with their highest civilian awards.

"The United Nations has also conferred Narendra Modi with the prestigious 'Champions of the Earth Award'. Prime Minister Narendra Modi's global acceptance and popularity doesn't need any certificate," Naqvi said.

The Modi government never planned development on the basis of Hindus, Muslims, Sikhs, Christians or on region and caste, and its priority has been the poor and deprived, Naqvi said, adding that still some people with a “prejudiced mindset” are trying to defame India by raising the bogey of Islamophobia.

There is not a single incident of discrimination against any section of the society, including minorities under the Modi government, the minister asserted.

All sections, including minorities, are strongly moving forward on the path of “development with dignity” under the Modi government, he said.

When the challenges due to the coronavirus were in initial stages across the world in early January and several countries, including Pakistan, had not taken care of their people abroad, it was the Modi government that brought back thousands of Indians stranded in Wuhan (China), Iran, Iraq, Saudi Arabia and other countries, Naqvi said, adding that a majority of these people were Muslims.

In the recent Vande Bharat Mission also, the Indian government is bringing back thousands of Indians from countries such as the Maldives, the UAE, Saudi Arabia, Iran, Qatar and other countries which include a large number of Muslims, he pointed out.

"Strong eternal commitment of my country will defeat and demolish the fake and fabricated Islamophobia card of the 'India bashing brigade'," Naqvi said in his blog.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
May 13,2020

Mangaluru, May 13: Kinz Foundation started distributing around 1500 food packets daily for migrant workers migrating in different parts of Dakshina Kannada district amidst coastal coronavirus lockdown.

"We are distributing daily 1,500 food packets both vegetarian and non-vegetarian. The number will be increased to 5,000," said businessman Althaf Hussain who arranged food packets on May 13.

"These are trying times. The poor migrants who are being denied of their bread due to the lockdown deserve help and we are trying to bring them food which is most basic needs.” he added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.