Samsung yet to settle claims worth Rs 50 cr: Phone retailers

Over 5,000-6,000 mobile phone retailers, largely in Maharashtra, on Monday asked Samsung to settle their claims worth over Rs 50 crore, which have been pending since last year.

The pending claims raised to Samsung by the retailers include payments of margins as well as certain schemes offered by the smartphone company for which it has asked retailers to give discounts to consumers.

The company offers 8-10% margins to retailers for selling its smartphones.

The pending payment by Samsung pertains to the January-March quarter of last year, which in a way is affecting the financial position of retailers, they said.