The Freedom 251 smartphone, launched by Ringing Bells, aims to provide a low-cost device at Rs. 251 amidst controversy regarding its pricing and production ethics. The company claims to have substantial in-house testing, and features include a 1.3 GHz quad-core processor, a 5" touch screen, and a warranty, while facing skepticism about delivery and quality. The document also references potential similarities to the past 'Aakash' tablet initiative and provides links for further exploration of the product's legitimacy.