Quite popular here at SEA, though the same can be said for Nendoroid's given the weebshit culture around here. POPs for the casual collectors; Nendoroids for the hardcore weebs. Pre-orders for both sides are well alive.
Me, personally, it depends on the design. I'm not about to toss $40 on a cutesy figure unless it's a character I really like. POPs cost less than half of that and have some neat results for their price point. Current favorites are their All Might, Portal 2 Turret, Cthulhu, and a 40k Primaris Marine (which I like a lot because it means I can get a 40k toy without giving in to Games Workshop's overpriced schemes). Also depends on what characters they're making since both of their art styles can yield some abominations. Funko has tons, whereas on the Nendoroid side, I'd fucking burn with fire a Nendoroid of anything from Evil Dead.