Samsung Intros Equal Monthly Installments For Galaxy Note 4 Purchase In Kenya

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Samsung today introduced
flexible payments plan for
premium handset Galaxy Note 4
to increase update. This is in
partnership with Barclays Bank
in Kenya where users can now
get the current flagship
smartphone Galaxy Note 4 on
interest-free loan.

“We are working with Barclays
to get consumers to buy the
much loved Galaxy Note 4 with
interest-free loans with easy
regular payments and this is the
beginning of more and more
future partnerships,” said Manoj
Changarampatt, Samsung
Electronics Director for Mobile
and IT.

The plan is open to Barclays
Bank customers who are also
Barclay Card Credit Card holders
and for the Galaxy Note 4 which
sells for Kshs 75,000 will get a
user paying Kshs 25,000 per
month.

“We want to ensure that the
Samsung galaxy device is a
household name by making
acquisition of premium devices
easier on the pocket of the
consumers by spreading out the
payments interest free for them,”
said Robert Ngeru, Samsung
Electronics VP East Africa.
For the longest time Samsung
India has had an edge where
sales of high end smartphones
increased when they introduced
EMIs (Equal monthly
installments) with the mobile
carriers and it looks like the
same is finally coming into
Kenya. Manoj says that what
commenced with the Galaxy Note
4 is expected to go into other
devices and price segments for
smartphones in the mid range
upwards.

One thing that has been stopping
a credit culture from growing in
Kenya like in developed countries
is a poor culture along the lines
of credit, vendors want to play it
safe. With this new plan both
Samsung and Barclays are sort of
safe from defaults since the
users who access the Galaxy Note
4 loan are already in the credit
system by virtue of being on
credit card. And this makes for
an easy way in to credit culture
in Kenya. Should this succeed we
could find more players looking
to get consumers take in
consumables on flexible credit.
Samsung has been on a growth
trend in Africa compared to other
global markets where
competition from Chinese
companies has eaten into the
revenues of the company, this is
not the case for Kenya and Africa
as Manoj says. He cites an 11%
year on year growth in sales and
specifically in the Note segment,
there has been no significant
competition per se.

Samsung also announced that
there will be a 4G version of the
Galaxy Note 4 coming early next
year into the Kenyan market
alongside the launch of 4G LTE in
Kenya. Other devices like the
Galaxy A5 which is also going on
sale this month are also 4G LTE
capable to keep up with new
developments.

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