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Samsung to provide finance to smartphone buyers in India
- Friday | 27th September, 2019
MUMBAI (Reuters) – Samsung Electronics is to provide finance to potential smartphone buyers, a company executive said on Thursday, in a bid to boost smartphone sales in India where it faces fierce competition from rivals such as China’s Xiaomi. “We are giving finance to consumers who have not been served consumer finance in the past,” Singh said. Other smartphone players offer similar schemes through tie-ups with finance firms, but for Samsung having its own loan product will likely help to drive sales. Samsung will initially offer an interest free loan to customers across its smartphone range, Singh said, adding that financing terms such as interest could vary in future. Seoul-headquartered Samsung has responded with launch of budget devices and become savvier with online marketing to millennials to claw back lost market share.
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