Cape Town - First National Bank is expanding its smartphone offering by now also selling LG G3 devices.
The bank announced on Thursday that it would range the LG G3 series of smartphones on its popular banking device sales platform.
Price played a large consideration into the smart devices offered by the bank.
"We understand that the smart device market in South Africa is continually growing but that needs and affordability among users differ vastly. As part of our digital ecosystem, it is our aim to give customers the ability to lead a connected life by offering a variety of devices across a spectrum of prices," said Kartik Mistry, head of FNB Retail and Distribution.
FNB typically sells devices on its platform on a 24 month, no interest payment plan. This strategy has seen the bank sell a significant number of tablets and smartphones online and launch physical dotFNB stores in shopping malls in major centres.
Price climb
The cheapest smartphone available is the Microsoft (formerly Nokia) Lumia 630 at R90 per month up to the Sony Xperia Z3 at R449.
The LG G3 series starts at R159 for the Titanium G3 Beat and tops out at R429 for the Titanium G3 bundle that includes the G Watch.
The price for smartphones in SA has been creeping steadily upward, despite global falling prices.
Part of the reason may have to do with the value of the rand which has depreciated from R7 to the US dollar in 2011 to over R11 this year.
Mobile operators which are the major distributors of handsets in the country are under scrutiny over pricing strategies.
The standard Samsung Galaxy S6 LTE 32GB is set to cost R12 399 in South Africa from Vodacom. On contracts such as the Vodacom Smart S plan, it means this S6 will cost R529 per month.
But whereas FNB still enjoys first mover advantage, other banks have joined the rush to offer consumers alternative means of acquiring smartphones and gadgets.
Standard Bank also offers devices on a 24 month zero interest plan. The bank has expanded its offering to include Apple, Lenovo and Samsung devices.
Click here for a complete list of FNB devices for sale.
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