Samsung India rolls out consumer financing for other electronic products like TV, ACs
Samsung India has grown consumer financing for smartphones through its digital consumer lending platform, Samsung Finance Plus, two times in the last one year and has now rolled it out for other electronic products like televisions, refrigerators and air conditioners on a pilot.
Samsung India senior vice president Raju Pullan said the company is currently financing around Rs 480 crore per month for smartphones, which has helped it to drive adoption of premium smartphones like 5G models even in the rural markets and expects similar growth in adoption of premium televisions and appliances.
Pullan said by December, Samsung expects its average lending for the year to be around Rs 600 crore per month since the company is pushing the availability of this service to the smallest of retail outlets. “Samsung Finance Plus currently has around 20% share of consumer financing for smartphones,” he said.