OnePlus to focus on China's high-end market

Smartphone brand OnePlus is to focus on the high-end market in China and globally with new models and expanded distribution, the company said on Friday. 

The company, which launched new 8T models in Beijing at prices up to 5,000 yuan (US$735), has become one of top brands in the premium market globally along with Apple and Samsung.

OnePlus holds the top position in the Indian market while it is No. 3 in Europe and No. 4 in North America. 

In China, OnePlus leads Android brands in the 5,000-5,999 yuan segment, according to online electronics retailer JD.

The number of its offline stores nationwide is growing 140 percent annually and this year they cover 110 cities in 30 provinces, according to Peter Liu, the company’s CEO.

China is expected to account for 29 percent of the global market for smartphones above US$600 in 2020, compared with just 16 percent in 2018, according to researcher Canalys. The US will account for 26 percent of the market this year.