Believe it or not, but bringing out some finance options (EMI to be more specific) are on cards by government of India, financial organizations and mobile manufacturers. Mobile handset manufacturers like Nokia, Samsung, LG & HTC are planning seriously to make mobile handsets available to the mass with a easy finance option, hence introducing EMI options is one among this initiatives.
Infact, Nokia is already providing mobile handsets to rural people in some parts of Andhra Pradesh and Karnataka under such EMI schemes. According to reports, for brining out easy finance options for its customers, Nokia has tied up with SKS Micro finance. Also, in a recent meet Nokia declared that presently it is not willing to extend this offer to other parts or areas of the country but other handset vendors like HTC, LG and Samsung are serious to come up with a bang and reportedly they are in talks with different finance institutions and banks.
Actually this move by handset vendors has been considered to push sales of high end handsets among the middle class people who are are not financially well of to get those high end handsets.
Here is what the country head of HTC, Mr. Anil Sharma has to say:
Consumer finance for mobiles phones, though new in India, is a tried-and-tested model globally. It is a good way to boost sales in markets that have a distributor-led sales structure. It helps target new consumer segments. Since Indian consumers replace their handsets within 12-15 months, these schemes should be structured in such a manner that the EMI period doesn�t extend beyond nine months from the date of purchase
There is no doubt that this move by handset manufacturers is really awesome and would be nice welcome in Indian markets, all we have to see is how successful this system would be in the India? What do you think about this move?
[Via Economic Times]