Home Credit inks pact with Oppo
COMING off the heels of a successful 2016 collaboration that saw brisk sales of its flagship devices, mobile giant OPPO is once again teaming up with Prague-based consumer finance company Home Credit in what they call a “strategic” partnership for 2017, as they get set to launch more OPPO installment promos in more places around the country.
This comes as OPPO looks to expand its market from the mass millennial and working class segments to the mid to high-tier mobile buyer segments, leveraging on consumers’ rising demand for OPPO’s camera phones as well as Home Credit’s affordable and accessible payment options.
“Our huge success with Home Credit in offering the OPPO F1 and F1s at low installments proves that Filipino mobile consumers, especially tech savvy millennials and workers, put a premium on two things: top-of-the-line features and affordability,” remarked Stephen Cheng, brand marketing manager of OPPO Philippines.
“And as we develop even more cutting-edge camera phones, we intend to expand and capture a bigger segment of the market, especially those who are looking for mid to high-tier models at competitive prices,” Cheng added.
Adam Bernasek, Home Credit Philippines’ Head of Sales, said that both companies are taking the lead in addressing a huge market demand.
“Our respective numbers and fast growth speak for themselves. In just a few years, OPPO has skyrocketed as one of the leading and best-selling names in the Philippines and Asian mobile segments, while Home Credit has dramatically grown its customer base as we approach the one million-customer mark in the country,” he said.
Bernasek noted that according to their sales data, around 40% of customers, both male and female, that purchased OPPO mobile phones through Home Credit financing belong to the 26-35 age segment, and are part of the country’s young, single and fast-growing mass workforce.
With OPPO’s planned entry into the upper-tier segment, they now set their sights on the upper-middle and even upper class markets, while continuing to establish its leadership among younger customers. With Home Credit, they intend to reach their 2017 target by offering more 0% interest promos for more products, in more places across the country.
“There is very clearly a high demand for both of our products and services from a significant portion of the mobile market, and we are thrilled to be working together with OPPO again to meet this demand,” Bernasek added.
Cheng and Bernasek explained that currently, Home Credit is offering 0% interest promos for OPPO products in close to 1,300 stores in 21 provinces nationwide. Home Credit’s 0% interest promos have proven to be very popular among consumers, and after offering the best-selling OPPO F1 and F1s camera phones last year, Home Credit is expected to offer the upcoming new flagship OPPO F3 Plus also at 0% interest, along with other new OPPO models.
“This is definitely a win-win partnership for us,” Cheng said. “As Home Credit helps countless OPPO fans avail of our latest models at very affordable installments, thus growing OPPO’s revenues further, OPPO also helps to drive Home Credit’s loan volumes thanks to a massive segment of OPPO customers that are availing the loans.”
“We’ve done great things last year, but we definitely want to set the bar higher in 2017. And more than that, we want this to be a long-term, sustainable collaboration that will yield bigger and bigger fruits in the years to come,” he added.