when does c++ allocate/deallocate string literals

Question

When is the string literal "hello" allocated and deallocated during the lifetime of the program in this example?

init(char **s)
{ 
  *s = "hello";
}
int f()
{
  char *s = 0;
  init(&s);
  printf("%s\n", s);
  return 0;
}

Answer 1

The string literal is initialised into read-only memory segment by the compiler. There is no initialisation or removal done at run-time.

Answer 2

They are not allocated but instead stored in the DATA segment of the executable.