Ringing Bells, a little-know Noida-based company, has launched what it is calling India's most affordable smartphone, but Freedom 251 might well be the cheapest smartphone in the world. Here's what you need to know about the Freedom 251.

Ringing Bells had announced earlier that the Freedom 251 will be priced at "less than Rs. 500". But we can now confirm that the smartphone will be priced at Rs. 251 (less than $4). At that price, it's easily the most affordable smartphone in the world. The website also lists important specifications of the Freedom 251: 4-inch display, 1.3GHz quad-core processor, 1GB RAM, 8GB internal storage (expandable up to 32GB), 3.2-megapixel back camera, 0.3-megapixel front camera, and a 1450mAh battery. The Freedom 251 will be officially unveiled in New Delhi on Wednesday evening at an event that will be presided over by Dr. Murli Manohar Joshi, MP, with the Union Defence Minister Sri Manohar Parrikar as the Chief Guest. Ringing Bells says the Freedom 251 smartphone has been developed 'with immense support' from the government and is touting it as a success story of PM Modi's flagship 'Make in India' scheme. A smartphone priced at Rs. 251 will go a long way in connecting every Indian, and like the previous government tried to take computing to the masses with the Aakash tablet, the Freedom 251 has the potential to realise the 'Digital India' vision.

(Also see: Freedom 251 in Pictures)

Bookings for the Freedom 251 open on February 18 at 6am and close on 21 February at 8pm. The company says deliveries will be completed by 30th June 2016. The Freedom 251 will be available via its website.