OnePlus CEO says tempted to make affordable smartphone for India
"OnePlus CEO Pete Lau says the company will not develop an affordable phone and stick to flagship products"
OnePlus has enjoyed a successful run in the Indian market and is the undisputed leader in the premium segment, ahead of global giants Apple and Samsung. And even though it keeps busy with the next-generation flagship-class features, the company sees the gaping hole of opportunity in the affordable segment. However, OnePlus CEO Pete Lau has said the company will not be pursuing that path and will stick to premium smartphones and the flagship category.
In an interview with PTI, the OnePlus CEO said there is a huge addressable market in the Rs 15,000-20,000 category. However, he added, "It is a temptation but we are not doing that. We have had a mission from the start of building a flagship phone with the best features, we will continue to focus there."
This is not the first time OnePlus has talked about the affordable segment. It launched the OnePlus X affordable phone in 2015, but the handset was unsuccessful in India and the series was discontinued after just one model. Since then, then company has developed only premium smartphones, but doubled the number of handsets it produces per year. The affordable segment in India is dominated by Xiaomi, another Chinese brand that has been able to become the country's largest smartphone vendor by volume thanks to its Redmi series phones.
On the other hand, the premium segment is led by OnePlus, which has market share of over 30 percent as per market research firm Counterpoint. Lau says the segment presents an exciting opportunity for the company, adding, "The premium segment is about 4-5 per cent right now but if 3-5 years from now, it were to be 15-20 per cent, the market scenario would be totally different…we are here for the long play. That is what we have told the India team, they need to focus on being healthy and sustainable in the long-term."
It already confirmed that the first OnePlus 5G phone is in the worksalong with a smart TV, both slated to launch next year. Separately, the company will also launch the successor of OnePlus 6T — likely to be called OnePlus 7 — in India in mid-2019.
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