With smartphone prices steadily increasing, manufacturers are looking for new ways to encourage buyers to upgrade their devices. Samsung has now introduced a new financing strategy aimed at making its premium smartphones more affordable, especially in the foldable segment.
The company believes that flexible payment options, including a new 30-month Equated Monthly Instalment (EMI) plan, will help attract more customers despite rising handset prices.
Samsung Banking on Longer EMI Plans
Samsung India has announced multiple financing options for buyers, with the highlight being its 30-month EMI plan, one of the longest repayment tenures the company has offered for smartphones in the country.
According to Aditya Babbar, Vice President of MX Business at Samsung India, the extended EMI option is designed to reduce the upfront financial burden on customers, particularly as smartphone prices have increased due to higher component and memory costs.
The company expects these financing schemes to support stronger smartphone sales and help the premium segment continue growing.
Premium Smartphone Segment Expected to Grow
Samsung expects robust demand for its premium smartphones, particularly devices priced above ₹45,000.
According to the company, this category is projected to grow by around 20% during the year as consumers increasingly look for flagship features such as advanced cameras, AI-powered capabilities, and foldable displays.
Samsung also aims to strengthen its position in the premium smartphone market by offering buyers greater flexibility through financing options.
Market Share Sees Improvement
The company has also reported an improvement in its market position in India.
Samsung's smartphone market share has increased to 17.7%, compared to around 15.5% in the January–March quarter, indicating improved performance despite challenging market conditions.
Smartphone Market Faces Slowdown
The financing push comes at a time when India's smartphone market is experiencing weaker demand.
Industry data indicates that smartphone shipments declined by 10% during the April–June quarter, marking the steepest June-quarter decline in several years. Rising smartphone prices have made consumers more cautious about upgrading their devices, even as brands continue to introduce new models and promotional offers.
Focus on Foldable Smartphones Before Festive Season
Samsung is expected to place significant emphasis on its foldable smartphone lineup ahead of the festive shopping season. The company plans to offer multiple financing options to make these premium devices more accessible to buyers.
Competition in the foldable smartphone segment is also expected to intensify as more global manufacturers prepare to expand their portfolios in the coming months.
Flexible Financing Becoming a Key Sales Strategy
As smartphone prices continue to rise, affordability has become just as important as features and performance. Longer EMI plans and flexible financing options are emerging as important tools for manufacturers to attract buyers who want premium devices without making a large upfront payment. Samsung's latest move reflects this changing market trend and highlights how financing could play a major role in driving smartphone sales in the months ahead.
