OnePlus founder Pete Lau said the company will investigate potential manufacturing ventures in India.
Chinese handset maker OnePlus said that it will explore new manufacturing investments in India as the Southeast Asian country continues to be its “key” focus market despite expansion across the world.
“Our global presence continues to be extremely important to us. While we have seen expansion over the last few years, India will continue to be a key focus market for the brand as well as for our product offerings. We prioritize all our current markets, and all our users matter to us equally,” Pete Lau, Founder of OnePlus told ET in an interview.
Navnit Nakra, CEO and Head of India region, OnePlus India said that India is one of its biggest markets worldwide and it is committed to a long-term sustainable growth path. “We will continue to stay true to this commitment and will explore manufacturing investments in India.”
Currently, the company is making its flagship devices in India along with mid-premium smartphones and smart TVs.
The brand recently forayed into the IT peripherals segment with the launch of its monitors and will also launch its keyboards.It had previously launched TWS audio, smartwatch and smartbands in India.
Lau said that OnePlus’ integration with Oppo has helped the company to maximize the resources better. “Oppo offers OnePlus access to its vast R&D resources and technologies that will be present in future OnePlus devices.”
He, however, reiterated that OnePlus will maintain its own distinctive characteristics at the product planning, brand proposition and marketing levels, and continue to operate independently.
OnePlus has plans to further expand its retail footprint in the Indian market. It earlier this year launched the OnePlus Boulevard, the world’s largest OnePlus experience store in India, with an aim to extend OnePlus’ premium brand experience to the retail front.
Nakra said that the 5G rollout will give push to the overall market and will help the brand to solidify its position. “India always has tremendous potential when it comes to consumer technology and is an important market for OnePlus globally. The Indian smartphone industry is evolving at an incredibly fast pace and OEMs continue to push the envelope.”
“At OnePlus, 5G technology continues to be of strategic importance to us. We have continued to demonstrate leadership in 5G R&D efforts since as early as 2016. We have been among the first in the industry to bring a complete 5G lineup to users, from 2020 onwards,” Nakra said.
OnePlus emerged as a leader in Q3 2022 in terms of 5G smartphone shipments in Rs 30,000-45,000 and Rs 20,000-Rs30,000 price segments as per the latest Counterpoint Research India Smartphone Model Tracker Q3 2022. In terms of overall 5G shipments, OnePlus captured the second spot.
OnePlus grew 35% YoY in Q3 2022 driven by the Nord CE 2 series and Nord 2T. The brand remained at the third spot in the premium segment (Rs 30,000 and above). OnePlus led the Rs 20,000-Rs 30,000 price band driven by its Nord portfolio.
Asked if the brand will have an equal focus on mid and premium segments having experienced better success with its Nord range, Lau said, “we are known for dedicated focus to provide high-quality performance and superior technology to our community at a reasonable price. Moreover, it has always been imperative for us to prioritize our users’ needs. Hence, we continued to bring forth products keeping in mind both the mid and the premium segment at competitive price points and will continue to do so in the coming year.”
