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World’s ‘cheapest’ smartphone released in India

Jessica Hartogs, special to CNBC
World's 'cheapest' smartphone released in India

A smartphone costing just about one percent of the price of Apple's iPhone has been unleashed on the Indian market.

The Freedom 251 smartphone, made by Indian company Ringing Bells, retails for 251 rupees ($4) according to its website.

The little-known Indian company was set up five months ago, reported

It has four other devices for sale on its website but hopes the Freedom 251 smartphone will be its signature device.

A Ringing Bell spokewoman told the AFP, "This is our flagship model and we think it will bring a revolution in the industry." The company did not immediately respond to CNBC's emailed request for comment.

Ringing Bells currently imports parts from overseas and assembles them in India but plans to make its phones domestically within a year, the spokeswoman added.

India is the world's second-largest mobile market and notched up its billionth mobile phone subscriber in October, reported the Guardian.

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