Home Credit Philippines (HCPH), the country’s leading consumer finance company, closed 2024 with a record-breaking ₱61 billion in total point-of-sale (POS) financing, reflecting a 19% increase from 2023.
This growth underscored HCPH’s commitment to providing accessible and innovative financing solutions while strengthening the country’s consumer finance sector.
RECORD-BREAKING POS SALES
According to its latest sales report, Home Credit financed 2.91 million products in 2024, covering high-demand items such as mobile phones, computers, televisions, and home appliances.
The company attributed this growth to its year-round promotional campaigns, including its widely popular 0% interest installment plans.
“At Home Credit, our growth is more than just numbers. It reflects the lives we empower by providing accessible financial solutions that help our customers achieve their dreams,” said Puneet Suneja, HCPH’s chief sales officer.
“The remarkable sales performance in 2024 inspires us to keep innovating, expanding our offerings, and introducing more promotions that empower Filipinos—all while staying true to our mission of being a reliable financial ally,” he added.
TOP-SELLING CATEGORIES
Home Credit’s sales surge in 2024 was largely driven by five key product categories, which collectively accounted for ₱57.4 billion of its total POS financing.
- Mobile phones and tablets topped the list, generating ₱31.7 billion from 1.6 million units financed. Leading brands included Apple, Samsung, Vivo, OPPO, and Honor.
- Home appliances followed, contributing ₱10.2 billion from 477,000 units. Top brands included Panasonic, Condura, Samsung, LG, and Fujidenzo.
- Computers ranked third with ₱7.1 billion in sales from 232,000 units, with Acer, Asus, Lenovo, HP, and Huawei dominating the segment.
- Televisions and electronics recorded ₱6.6 billion in sales from 301,000 units financed. Brands such as Samsung, TCL, LG, Sony, and Skyworth led the category.
- Furniture rounded out the top five, contributing ₱1.8 billion from 102,000 units financed. Popular brands included San-Yang, Uratex, Infinite, and Dewfoam.
Mobile phones posted the highest absolute sales increase, rising 19% from ₱26.6 billion in 2023, reflecting Filipinos’ growing demand for high-performance smartphones.
Meanwhile, apparel stores saw the highest percentage growth, surging 128.4% from 2023, indicating increased interest in financing options for fashion and personal wear.
Home Credit also expanded into mobility financing, introducing two-wheelers as a new category. In 2024, the company financed 2,870 motorcycle units, totaling ₱261 million in sales.
TOP BRANDS AND RETAILERS
Home Credit’s success was further bolstered by strong partnerships with leading brands and retailers.
Among brands, Apple led the pack, recording ₱10 billion in total sales, an 84% jump from 2023. iPhones accounted for 86% of Apple’s Home Credit-financed sales, with the iPhone 13 emerging as the best-selling model, with 93,000 units financed in 2024.
Samsung followed with ₱6.6 billion in sales, while Vivo, OPPO, and Honor secured ₱4.3 billion, ₱4.1 billion, and ₱2.5 billion, respectively.
On the retail front, Abenson was Home Credit’s top retail partner, achieving nearly ₱4 billion in sales. Other top-performing retailers included:
- Rulls – ₱3.8 billion
- Imperial Appliance Plaza – ₱3 billion
- SM Appliances – ₱2.2 billion
- Power Mac Center – ₱1.8 billion
Other key partners included Emcor, Robinsons Appliances, Cellboy, Octagon, and MemoXpress.
“Our strong collaboration with brands and retailers has been instrumental in making financing more accessible to Filipinos,” Suneja said.
“As we celebrate our 2024 performance, we remain committed to expanding our portfolio and forming more partnerships to better serve Filipino consumers,” he added.
