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.
