HMD Global, the manufacturer of Nokia-braded phones on Wednesday launched HMD Easy Pay, a smartphone financing solution, in partnership with DMI Finance. It should be noted that South Korean tech giant had launched a similar financing solution that it calls Samsung Finance+ in 2019, which gives instant offers to prospective buyers. HMD Global is intending to "redefine the way customers access and own Nokia smartphones". HMD Global expects its sales to get a boos of 25 per cent-30 per cent in the country, courtesy of the easy financing option.
This comes amid an overall falling appetite for smartphones and handset makers pulling all stops to entice buyers.
With HMD Easy Pay, prospective buyers can get no-cost EMIs and "transparent pricing" across different tenure and down payment options. Handset maker Xiaomi has also recently launched its Xiaomi Easy Finance Program (XEF) in India. XEF is a digital loan programme for Indian buyers, starting and the programme currently covers the Redmi 12 model.
Nokia Models Covered Under HMD Easy Pay Programme
To begin with, the HMD Easy Pay programme covers a number of Nokia-branded smartphone models, including the Nokia G42 8GB/256GB model, Nokia C32, Nokia C22 and Nokia C12 Pro, offering options to suit diverse customer preferences. HMD Easy Pay will essentially work by providing easy finance for Nokia smartphones, and ensure speedy loan approvals. It will also offer digital application process as well as offers, such as no-cost EMIs.
HMD Easy Pay is likely to reach a diverse customer base across the country, including those who are new to credit system. The programme aims to make smartphone ownership more inclusive and accessible.
"At HMD Global, our commitment to providing users with quality and accessible smartphones has been unwavering. HMD Easy Pay is the realization of that commitment, a ground-breaking financing program that places Nokia smartphones within reach of all. We are thrilled to be partnering with DMI Finance to bring this revolutionary solution to our customers," Ravi Kunwar, VP-India and APAC, HMD Global, said in a statement.
"In a world where affordability is a central concern in the mobile phone industry, our goal is to provide device financing solutions that cater to a wide spectrum of consumers, including those who are new to credit. Thanks to our advanced technology and the integration of the HMD Soft Lock solution in the backend, this vision is becoming a reality," said Shivashish Chatterjee, Co-founder and Joint Managing Director, DMI Finance.