70 per cent of Home Credit consumers buy mobile phones

Monday, Jul 20, 2015 17:24

HDBank announces a programme to support livestock farms. — VNS Photo
HCM CITY (Biz Hub) — Home Credit, a consumption finance company, said that 70 per cent of its customers by the end of June had borrowed money to buy mobile phones.

The companys report, released on Monday, said that most customers had bought phones priced between VND3 million (US$142) and VND8 million ($367).

The most wanted mobile phone brands were Samsung and Nokia, at the rate of nearly 25 per cent and 20.2 per cent, respectively. The volume of customers buying an iPhone was only 11.5 per cent.

Nearly 52 per cent of customers registered to pay back the loan in six to 12 months, and the rest between three and six months.

Home Credit, a major consumption finance company in Viet Nam, offers several services to many people with low- and middle-incomes.

Fried Weiss, CEO of Home Credit Viet Nam, said the presence of finance companies in Viet Nam "not only helped strengthen sales nationwide but also provided opportunities for people who have unstable or low- or middle incomes to access modern financial services."

"Most them have not had chances to access bank loans, especially unsecured loans, to buy goods for their daily lives," he said. — VNS

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