Chinese smartphone maker OnePlus is looking at a second company headquarters in Bengaluru, India, signalling the overarching importance of Asia’s third largest economy and its smartphone market which is estimated to be $8 billion in size.
According to Forbes India, over the last decade, Chinese manufactures such as Xiaomi, Vivo, Oppo and OnePlus have come to control about 51 percent of India’s smartphone market. For OnePlus, founded by former Oppo executive Pete Lau in 2013, India has come to be its biggest market and has helped propel the company’s revenue for calendar 2017 beyond the $1 billion mark.
India now accounts for over one-third of the total revenues (of $1.4 billion) of Shenzhen-headquartered OnePlus, followed by Europe, China and the US.
Lau, founder and CEO, OnePlus tells Forbes India that Bengaluru is mostly likely where the headquarters will be based. The stating of two headquarters (Shenzhen and Bengaluru) is a possibility.
As part of his larger vision for India, OnePlus will expanded its research and development (R&D) capabilities in the country as well as have a deeper focus on a ‘Make in India’ strategy. Presently, the company is finalising plans on local component manufacturing and sourcing.
Founded in the winter of 2013, OnePlus arrived in India about a year latter through an exclusive online partnership with Amazon India, which continues to be its exclusive online partner. The company operates in the premium end of the market with its products priced above $400. Citing IDC’s Quarterly Mobile Phone Tracker Q4 2017 report, OnePlus claims that it has a 48 percent share of sales in the online premium smartphone category in India. And a 28 percent share of the overall premium smartphone market in the country.
