$4 Indian smartphones 'will ship this week'

Ultra-cheap Ringing Bells Freedom 251 Android phone previously thought to be scam will ship in batch of 200,000 - but company will make loss on each handset

The $4 Indian phone that some thought might never materialise reportedly does exist, but only because the startup producing it is making a loss on each one.

The Ringing Bells Freedom 251, initially announced at a price of 5, is apparently set to ship this week to customers who preordered the phone in February for - ($3.70 or 2.77). At that price - the one the company originally pledged - it is losing the Indian startup Rs 150 ($2.2 or 1.65) on each smartphone.