Home Credit Philippines (HCPH), the country’s leading consumer finance company, said it expects iPhone sales to reach P10 billion by end-2024, up by 66 percent from last year’s P6.02 billion
Home Credit said iPhone has consistently been the top-selling mobile device for HCPH for two consecutive years. The forecasted growth is driven by Apple’s latest iPhone model releases.
The financing company said the steady growth reflects an average year-on-year sales increase of 250 percent since Home Credit started financing iPhones in 2013.
Home Credit’s sales data reveal a dramatic surge in iPhone demand since 2021. Sales increased more than sevenfold, from over 21,000 units in 2021 to nearly 150,000 units in 2023, it said. It said that on average, over 400 iPhones were sold daily last year through Home Credit financing.
