iPhone remains Home Credit's top mobile in 2024

The company expects a 66 percent increase from last year's PHP 6 billion sales.

Courtesy: Home Credit

Growing popularity of iPhones among Pinoys

Home Credit Philippines (HCPH) is seeing a steady increase in its iPhone sales, projecting a total of PHP 10 billion worth of sales by the end of the year. This reflects a 66 percent increase from its 2023 sales of PHP 6 billion, making the iPhone the top mobile sold by the company for two years in a row.

This project 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 growth represents an average of 250 percent 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.

See also: Home Credit partners with Digimap to make the iPhone 16 Series more accessible to Filipinos

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 PHP 861 million sold in 2021 to nearly 150,000 units amounting to PHP 6 billion last year.

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 PHP 17 billion. The best selling model was the iPhone 11, with 186,000 units sold valued at PHP 5.8 billion.

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 PHP 50 - PHP 60 per day, said Puneet Suneja, chief sales officer of HCPH.

HCPH is currently offering various payment methods for iPhones such as 0 percent interest deals, as well as a variety of flexible installment plans from six to 24 months.

What do you think guys?