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."

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rampa
 - 
Monday, 22 Feb 2016

I think battery only original.

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News Network
February 21,2020

Thiruvananthapuram, Feb 21: A school in the city has allegedly denied admission to a boy whose parents did not fill the religion column in the application form, prompting the Kerala education department to seek a report.

The parents, Naseem and Dhayna, had sought admission for their son to the first standard at the St Mary's school, a government-aided institution. They alleged that school authorities had claimed that registration will not be possible on the education department's 'Sampoorna' portal without filling the 'religion' column.

"We were informed by the school authorities that it was not possible to give admission to our child as we wrote 'nil' in the religion column. They claimed that if nil is mentioned, the admission process will not get registered in the school management software of the education department," Naseem said.

Sampoorna is a school management system project implemented by the Kerala education department to automate the system and process of over 15,000 schools in the state.

The parents later approached the ministry and the Directorate of Public Instruction (DPI) to get further clarification.

"The state government officials denied that there were any issues with the software and confirmed to us that the admission process was going on.

When we approached the school authorities again, they asked us to give in writing that we, the parents will take responsibility of any issues that may occur in the future," Naseem said.

The parents then decided not to enroll their son at the school due to the manner in which the issue was handled by the institution. Reacting swiftly, the state government sought a report from the DPI and the deputy director of the education department on the matter.

"We have asked the DPI and the deputy director of the education department to look into the matter and file a report as soon as possible," Education minister C Raveendranath told PTI. The parents said after the news spread, a school official called them offering admission.

"But we decided not to enroll him there due to the approach of the school authorities," he said.

Naseem runs a catering business after returning from the Gulf.

The school management in a release claimed that they sought a letter in writing from the parents to avoid trouble in the future. "When school authorities asked why the religion column was left blank, the parents said they were not interested in filling that part. The parents have that right.

But most benefits given by the government to school children are based on religion. We just wanted to ensure that the parents take the responsibility in case the student misses out any such benefits in the future," the management said.

School authorities maintained they never denied admission to any student. The parents are now looking for admission for their son in other schools in Thiruvanathapuram.

Ravindranath recently claimed in the state Assembly that over one lakh children in Kerala had left columns relating to caste and religion blank in school admission records during the 2017-18 academic year. In a written reply, he said as many as 1,24,147 children had not filled these columns while enrolling in different classes in government and government-aided schools during the period.

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News Network
March 6,2020

Bengaluru, Mar 6: The Karnataka Congress on Thursday termed the budget for fiscal 2020-21 presented by the B.S. Yediyurappa government as the "weakest ever state budget".

"This is the weakest budget ever that our state has had. There is no clear cut provision in the budget for industrial growth or to generate jobs. No clarity on department wise allocation," tweeted Congress.

Congress leader Dinesh Gundu Rao said he did not expect such a bad budget which has discriminated on agriculture and education sectors.

"The state budget does not mention major irrigation projects like Kaveri valley and Krishna. No farmers loan waiver," noted Rao.

The opposition party has criticised the ruling Bharatiya Janata Party (BJP) that the potential of Karnataka was not realized to generate revenue through this budget.

Assailing the additional tax on petrol and diesel, Congress said the development will lead to price rise and is a huge disappointment.

"People are reeling under high inflation and reduction in income. BJP has rubbed salt into injury by further increasing prices and providing no relief to common man," said the party.

Bhalki MLA and Karnataka Pradesh Congress Committee working president Eshwar Bhimanna Khandre pointed out that the Centre gave the state only Rs 1,869 crore, despite a loss of Rs 35,160 crore in 2019.

Calling stamp duty reduction for housing within Rs 20 lakhs as an insult to people, Congress questioned the Chief Minister and BJP to first show where in Bengaluru does one get housing within Rs 20 lakh.

"This is mockery of people. No mention or allotment to universal housing programme that Congress government had delivered," claimed Congress.

Focusing on Karnataka capital Bengaluru, Congress slammed the BJP saying no proper revenue policy has been mooted.

"Last mile connectivity issue not addressed. Drinking water issue is not mentioned. No mention of peripheral ring road. No mention of Akrama-Sakrama and no thought process has gone in while planning Bengaluru," tweeted the party.

The party said Yediyurappa has admitted that there is a financial crisis in his budget speech.

"He admits Rs 8,883 crore aid has been cut, around Rs 11,000 crore state share from Centre has been cut. No additional allocation for flood relief. What is stopping him and 25 members of Parliament to question the centre," observed Congress.

Former chief minister Siddaramaiah mocked Yediyurappa that though he calls himself a farmer''s son, he delivered an anti-farmer budget.

"No one will benefit from this budget. A complete failure to boost the economy, to realize inclusive development and to improve standard of living," he tweeted.

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News Network
March 4,2020

Bengaluru, Mar 4: CM BS Yediyurappa may reconsider plans to hike taxes and curtail populist schemes in his budget on Thursday as the Centre released part of GST compensation it owes the state. Officials said the Centre released the first instalment of the bimonthly compensation for October-November amounting to Rs 2,013 crore.

"This is welcome relief as the government has been scrambling to mobilise funds," said BT Manohar, member of GST consultative committee, government of Karnataka. The second instalment of Rs 1,523 crore is also expected to be released soon.

The CM, in his seventh budget, is expected keep the focus firmly on farmers and give top priority to irrigation, agriculture and welfare schemes.

The irrigation sector is expected to land the lion's share with an allocation of at least Rs 25,000 crore, followed by agriculture. Former CM Kumaraswamy had allocated over Rs 17,000 crore for water resources.

The bulk of funds is likely to go to the Upper Krishna (UKP) and Upper Bhadra projects, as it will help backward Kalyana Karnataka and central Karnataka regions. The two are also significant political blocs. The government will also seek assistance from the Centre for the UKP project in the erstwhile Hyderabad-Karnataka region, which enjoys special status under the Constitution owing to its backwardness. P4

Yediyurappa is also expected to spell out populist schemes for the poor.

Former CM HD Kumaraswamy had allocated Rs 17,212 crore in the previous budget for water resources and Yediyurappa is likely to go well beyond that figure. "Priority will be given to irrigation and farmers," Yediyurappa had said recently. "I am making efforts to present a budget within the financial constraints."

he amounts are released once every two months, but the Centre had fallen behind on payments. PX

"There are indications that another payment will be made."

The state's optimism stems from the fact that the Centre's GST collection crossed the Rs 1 lakh crore-mark for four successive months till February.

However, the CM could still hike tax rates marginally. At a pre-budget meet on resource mobilisation where Yediyurappa is learnt to have expressed willingness to borrow funds, officials from the finance department advocated raising tax rates instead.

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