ONEPLUS, a Chinese smartphone startup, will boost global expansion as it seeks to overcome declining sales in the domestic market, the company said in Beijing yesterday.
OnePlus’ revenue totaled 10 billion yuan (US$1.59 billion) in 2017, with over 70 percent coming from overseas markets, said Chief Executive Liu Zuohu during a conference to launch its new flagship OnePlus 6 in Beijing.
The startup boasts a 44 percent market share in the segment for smartphones costing between US$400 and US$600 in the United States.
OnePlus also captures over 50 percent of the Indian market for smartphone models priced at over US$400, according to Liu.
China’s smartphone sales totaled 91 million units in the first quarter of 2018, down 21 percent year on year, according to researcher Canalys.
OnePlus launched its new flagship OnePlus 6, priced from 3,199 yuan, in Beijing yesterday.
To attract high-end consumers, its Avengers-branded limited edition of OnePlus 6 costs 4,199 yuan.