India being second largest country in terms of revenue generation for Nokia, Nokia has now introduced microfinance schemes in 12 states in an effort to push its mobile phone penetration in the country.

Nokia has tied up with stakeholders to make this facility available for customers who can’t afford high end phones. With more than 19,000 Nokia retail outlets in India, this will surely help the customers. Nokia plans to offer easy payment of as low as RS 100.00 per week for a period of time.

This looks like an attempt to overcome the loss they are facing due to strong competition in market. Symbian which is highly endorsed by Nokia phones is soon losing its hold over market in US and UK. Though in Asia symbian still holds itself strong, it is soon losing out to Apple’s iPhone and Android based phones. The only hurdle that iPhone is facing is the price tag it comes with.

It is to be seen if easy payment scheme works for them considering RS 100 per week is way too cheaper for any high end phone.