Samsung Electronics is targeting repeat purchases from its 175 million customers in India through a new cashback credit card, a senior executive said, a move to boost sales in the critical market where it was once the top smartphone seller.
With India’s festive season underway, the South Korean electronics giant on Monday launched a new credit card with India’s Axis Bank to offer 10 percent cashback all year round to customers buying Samsung products.
Typically, such discount offers are available on e-commerce websites such as Amazon and other brick-and-mortar stores only during the festive season or during sales.
“We are talking about 175 million existing consumers, which is our current installed base for Samsung in India. This entire base is a potential,” Raju Pullan, Samsung’s senior vice-president for its India mobile business, told Reuters.
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