iPhones are for everyone: Apple’s premium device remains Home Credit’s top mobile in 2024

Country’s leading consumer finance company sees steady growth, 66% increase from last year’s PHP6B worth of sales

Home Credit Philippines (HCPH), the country’s leading consumer finance company, anticipates a steady increase in its iPhone sales, projecting a total of PHP10B worth of sales by the end of the year, a 66% increase from its 2023 sales of PHP6B. This makes the iPhone the top mobile sold by the company for two years in a row.

The forecasted surge is based on Home Credit’s strong sales from the previous year and the excitement surrounding Apple’s latest iPhone model releases. According to the company’s recent sales report, the steady growth represents an average of 250% year-on-year sales increase since Home Credit started financing iPhones in 2013.

Among the factors that drive sales is the growing popularity of iPhones among Filipinos, whether for personal or professional use. Known for its cutting-edge technology and premium quality that solidifies its standing as one of the best smartphones on the market, the demand for iPhones, according to Home Credit’s sales data, has surged since 2021, with sales increasing more than sevenfold, from over 21,000 units amounting to PHP861M sold in 2021 to nearly 150,000 units amounting to PHP6B in 2023. On average, over 400 iPhones were sold daily last year via Home Credit financing.

Currently, Home Credit’s total number of iPhone units financed stands at 445,000 units, amounting to PHP17B worth of sales, with the iPhone 11 as the best-selling model, accounting for 186,000 units sold and PHP5.8B worth of sales.

“Filipinos are always searching for high-quality, durable smartphones that can meet their everyday needs, from managing daily tasks to providing entertainment after a long day. Apple has consistently delivered on this through its ever-evolving iPhone models, making it a trusted choice for Filipino consumers.

“Our sales figures reflect the strong demand for iPhones in the Philippines, and the progression of the mass segment’s aspirations. Those who were previously content with mid-tier phones are now earnest in purchasing an iPhone because of flexible plans that allow them to get them for just P50-P60 per day,” Puneet Suneja, Chief Sales Officer of HCPH said.

As the Filipino’s financial ally, HCPH has made it easier for all Filipinos to own their dream iPhones by offering 0% interest deals and a variety of flexible installment plans from six to 24 months. These financing options provide customers with the opportunity to have their perfect digital partner without financial strain.

“At Home Credit, we believe that Filipinos deserve access to top-tier devices they can depend on for their digital needs. As their financial partner, we are committed to offering innovative financing solutions that make iPhones available to everyone. This allows our customers to enjoy powerful and reliable smartphones without placing a heavy burden on their wallets,” Suneja concluded.

To learn more about Home Credit Philippines, visit its official website, www.homecredit.ph, or check out Shoppingmall.ph to browse the latest 0% interest deals. You may also follow its official Facebook, Instagram, and TikTok accounts.

Customers can download the Home Credit App, available on Google Play or App Store, for fast pre-approval of product installments, or talk to a Home Credit representative at any partner store.

Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).

About Home Credit

Home Credit Philippines is the leading consumer finance company in the Philippines. Backed by Bank of Ayudhya Public Company Limited, the fifth largest bank in Thailand and by MUFG Bank Ltd., the largest banking group in Japan, and trusted by a strong and diverse set of banks locally and worldwide, the company plays a pivotal role in driving financial inclusion for Filipinos by expanding access to credit opportunities and transforming the consumer finance landscape in the Philippines.

In its almost 11th year, Home Credit has served almost 11 million customers and credited over 320 billion pesos worth of loans through its portfolio of products that cater to the different needs of its customers—installment financing, cash loans, credit cards, and a virtual spending limit named Qwarta. Trusted by Filipinos, Home Credit is registered with the Security and Exchange Commission and regulated by the Bangko Sentral ng Pilipinas. The company was recognized as the Best Finance Company of the Philippines in 2024 by the Asian Banking & Finance (ABF) Retail Banking Awards

More information on HCPH is available at www.homecredit.ph.