A promotional tie-up between consumer finance company Home Credit and smartphone brand Oppo has shown to be successful, generating nearly P50 million in loans for the Oppo F1 model.
Home Credit, a consumer finance provider that offers non-bank installment loans to Filipinos, offered the Oppo F1 smartphone, which retails at P11,990, at 0-percent interest, making the gadget more accessible to more consumers. Since its launch on Feb. 19, the promo has generated considerable demand from Oppo customers.
Six out of 10 products purchased through Home Credit in all establishments offering the promotion were Oppo F1. This means that the Oppo F1 outsold all appliances and gadgets offered by participating Home Credit establishments during the promo period of Feb. 19 to March 31.
It was also noted that out of all Oppo F1 units sold during the period, 30 percent were due to Home Credit financing.
Adam Bernasek, head of sales of Home Credit Philippines, said the successful turnout of the Oppo F1 promotion was a positive testament to the consumers’ growing tendency to make their purchases via legitimate non-bank alternatives such as Home Credit.
“The sales of the Oppo F1 has been outstanding. There were more Oppo F1 units sold by Home Credit than all the other appliances and gadgets in the participating establishments combined. We’re glad Filipinos are now more aware and open to avail themselves of non-bank installment loans, and we’ve also received positive feedback from those who took advantage of this promo,” he said.
Bernasek said with the success of the partnership, the promo was extended until May 31.