NEW DELHI, Sept 26 (Reuters) - Samsung Electronics (005930.KS) 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 (AXBK.NS) to offer 10% cashback all year round to customers buying Samsung products.
Register now for FREE unlimited access to Reuters.com Register"We are talking about 175 million existing consumers, which is our current installed base for Samsung in India.
Samsung, which says it is India's largest consumer electronics firm, sells everything from smartphones to washing machines in the country.
In the second quarter of 2020, Samsung had a 26% share of India's smartphone market, which is currently at 19%, data from Counterpoint Research shows.