Nokia has a strong hold in rural India with services like Nokia Life Tools. In order to penetrate deep into the rural market (and preserve its market share).
Nokia has taken MFI (MicroFinance Insitutions) route to enable rural residents of Punjab and Haryana to use microloans to buy mobile phones (EMIs will be as low as INR 100 per week).
Nokia has already formed partnerships with MFIs like SKS Microfinance, Ujjivan and Madura Finance for the distribution.
Recently, Nokia launched Mobile Money Service in India (first commercial rollout being Chandigarh) that enables people to transfer money to another person simply by using the person’s mobile phone number.