This was the first time that the iPhone was Home Credit's most popular brand. Usually, their top-sellers consisted of affordable models from Samsung, Oppo, Vivo, and Realme.
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In 2023, Filipinos bought more than P6 billion worth of iPhones through Home Credit, which was ten times more than the total in 2022. That translates to close to 200,000 units purchased for the year, mostly using the finance firm’s popular installment plans.Prior to 2023, Home Credit’s customer base heavily favored Android phones. Their top-selling phone brands often included affordable models from Samsung, Oppo, Vivo, and Realme.
WATCH: An eager crowd await the iPhone 15 at its midnight launch in the Philippines on Friday, October 20. First in line was Joey Reyes, who was also the first to buy the iPhone 14. Reyes says he sold the 14 to buy this year's iPhone.Home Credit jumped on the hype, offering older models at lower prices. After the launch of the iPhone 15, the consumer finance companythat brought the iPhone 11 down to just P1,203 per month.
“One is we do believe that, yes, the economy is growing, there’s better purchasing power, and even the higher segment of customers have started to look at Home Credit as a better option for them than swiping their card from some certain instances,” Suneja told Rappler.
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