A third of smartphone buying likely to be financed this year
Mint Mumbai|October 26, 2023
In 2023, one-third of smartphone sales in India is projected to be financed, seeing a notable increase from 25% in 2022 and 18% in 2021, driven by brands offering attractive schemes in response to a surge in festive season purchases.
Gulveen Aulakh
A third of smartphone buying likely to be financed this year

“Since the post-covid time, 2023 will see the highest-ever share of smartphones that are bought by consumers using finance schemes. Half of the sales of the premium segment (above ₹30,000) is expected to be from easy finance options. For affordable segments (sub- ₹30,000), this will be the first time that the share will rise to 25% of total sales," said Tarun Pathak, research director at Counterpoint Research.

In 2022, about 25% of premium smartphones, including Apple, Samsung, and OnePlus, were sold through staggered payment plans, most at zero interest or processing fee, data revealed.

The trend is gaining traction in the sub-premium segments, with brands such as Xiaomi and HMD Global tying up with financing partners, including banks and non-banking financial institutions.

هذه القصة مأخوذة من طبعة October 26, 2023 من Mint Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة October 26, 2023 من Mint Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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