Originally published: June 26, 2008
Source: IT News Online
Nokia has announced that it is looking at microfinance as a major initiative to increase mobile penetration in India from the current 26%. While India is adding 8 million subscribers a month, the country still has a huge untapped base, constrained by the initial cost of the mobile phone. The company is running pilots and trials to gauge consumer response in select markets and will soon come out with specific offerings to make buying a mobile phone more affordable.
"India's consumption of mobility is growing at a phenomenal pace and it has the potential to make a major contribution to the country's socio-economic development. Nokia recognizes its responsibility and our aim will be to try and bring more consumers into the folds of mobility by maximizing value creation," said Olli-Pekka Kallasvuo, President and CEO of Nokia.
Nokia has said that with its large distribution network in the country and support in nine Indian languages, it is also providing agriculture-based solutions catering to the farming community in India. It is working with a host of content providers and has started programs for farmers, which include providing solutions from information on market prices for agricultural products to weather updates to financing options.
- Read the complete article: Nokia Targets Rural Markets for its Growth in India (IT News Online)
- Related news: Can the Mobile Phone Help End Global Poverty? (14 Apr 2008)