Custom finance options drive Samsung to top in Indian smartphone market

Besides bringing value-added features in phones, Samsung is offering multiple custom financial options to prospective customers, leading to more sales in India

At the end of 2022, Samsung after a long hiatus regained the top slot in India, the world's fastest-growing smartphone market. Amid the slowing sales, Samsung was the only brand that did not see any decline in the last quarter Q4, 2022, reported Counterpoint Research Market Monitor.

Driven by the premium Galaxy S22 series and the Galaxy A series, Samsung also emerged as the top brand in the 5G smartphone segment too.

Besides offering value-added features in smartphones, Aditya Babbar, Senior Director, MX Business at Samsung India also credited the success to Samsung Finance Plus.

Current finance options offered by bank partners and finance companies require prospective customers to have good CIBIL scores and they are limited to tier-1 and tier-2 regions.

However, Samsung is offering its scheme in over 75,000 plus stores not just in cities and towns, but also in tier-3, 4, and 5 regions covering rural regions across India. Add to that, the company is just trusting the customers and even those who have never availed of any loans before.

'Samsung Finance Plus has been in India for close to two years, and it has grown steadily compared to other financial options and has the lowest delinquency rate in the country," Aditya Babbar said to DH.

Aditya Babbar, Senior Director, MX Busines, Samsung India at the Galaxy A54, A34 5G series launch at Samsung Opera House, Bengaluru on March 28, 2023. Credit: DH Photo/KVN Rohit

Samsung is offering custom financial options across different price segments of the phone to match customer needs.

Unlike other brands, which dictate the terms of conditions such as bank partner cards, and cash backs, Samsung will offer multiple tailor-made options to customers. They can choose for just bank card-based cash back, just exchange deals, or want long-term 11-month EMI options on phones.

With Samsung Finance Plus, the cost for customers comes down to as low as Rs 44 per day. With fewer issues, people are paying the EMIs on time, in this case, for Samsung phones.

With such measures, Samsung has managed to ship more than one crore Galaxy A series units in India. Also, the Samsung Galaxy A53 series was the top-selling phone in the Rs 30,000-45,000 price range in India.

On Tuesday (March 28), Samsung Galaxy A34 and A54 series went on sale in India.

Samsung is offering Galaxy A34 in two variants--8GB RAM + 128GB and 8GB RAM + 256GB storage-- for Rs 30,999 and Rs 33,999, respectively.

Also, the Galaxy A54 is available in two configurations-- 8GB RAM + 128GB storage and 8GB RAM + 256GB storage-- for Rs 38,999 and Rs 40,999, respectively.

Samsung Galaxy A34 5G. Credit: DH Photo/KVN Rohit

The Galaxy A54 sports a 6.4-inch super AMOLED full HD+ display and the Galaxy A34 comes with a bigger 6.6-inch full HD+ super AMOLED screen.

Must read | Samsung Galaxy A34 5G review: Well-balanced mid-range phone

They both support 120Hz refresh rate and Vision Booster, which ensures the viewing experience remains the same in all light conditions. Based on sensors, it can sense the light intensity of the room and accordingly set the brightness level.

The Galaxy A54 is powered by Exynos 1380 octa-core processor, whereas the A34 comes with MediaTek Dimensity 1080 octa-core chipset. And, they both feature a 5,000mAh battery with 25W charging capability.

They come with Android 13-based One UI 5.1 OS out-of-the-box. They are guaranteed to get four years of Android OS support (up to Android 17) and five years of security software support (up to the year 2028).

Samsung Galaxy A54 5G series. Credit: DH Photo/KVN Rohit

The Galaxy A54 boasts a triple camera module-- 50MP main camera (f/1.8, autofocus, OIS: Optical Image Stabilisation) backed by 12MP (f/2.2) ultra-wide fixed-focus camera and 5MP macro sensor (f/2.4, fixed focus) with LED flash on the back. And, it also houses a 32MP front camera for selfies and video chatting.

On the other hand, the Galaxy A34 features a triple camera module-- a 48MP main camera (f/1.8, autofocus, OIS) backed by 8MP (f/2.2, fixed focus) and 5MP macro sensor (f/2.4, fixed focus) with LED flash on the back. It also comes with 13MP (f/2.2) fixed-focus front camera.

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