Firm expects brisk sales of iPhone smartphones
SunStar Business

Firm expects brisk sales of iPhone smartphones

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A CONSUMER finance company is projecting a total of P10 billion worth of iPhone sales by the end of the year.

Home Credit Philippines, in a statement, said this will be an increase of 66 percent from the P6 billion recorded in 2023.

The company said the forecasted surge is based on strong sales from the previous year and the excitement surrounding Apple’s latest iPhone model releases.

According to its recent sales report, the steady 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.

The demand for iPhones has surged since 2021, with sales increasing more than sevenfold, from over 21,000 units amounting to P861 million sold in 2021 to nearly 150,000 units amounting to P6 billion 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 P17 billion worth of sales, with the iPhone 11 as the best-selling model, accounting for 186,000 units sold and P5.8 billion worth of sales.

“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 Home Credit Philippines said.

Home Credit is offering zero percent and a variety of flexible installment plans from six to 24 months.

The iPhone 16 models were released in the Philippines on Friday, Oct. 18. / KOC

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