Samsung Electronics is to provide finance to potential smartphone buyers, a comp...
MUMBAI - 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. He said the company would launch the product in 5,000 stores in 30 cities, and by the end of the year it wants to be in 10,000 stores in 100 cities. 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.
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