OnePlus targets 10 million sales on domestic expansion and lower prices
OnePlus, which used to focus on the overseas market, plans to sell 10 million smartphones in 2021 through domestic expansion and providing affordable models for more consumers, the company said.
OnePlus has integrated its business with Oppo through platforms and technologies like the Internet of Things and artificial intelligence, said founder Peter Liu.
"The target (10 million sales) isn't a big number in the industry but it makes sense for a brand targeting the high-end market," Liu told an online conference.
OnePlus released its new OnePlus 9RT model at a cost starting from 3,299 yuan (US$515), its first model around the 3,000 yuan level. Most OnePlus models had previously cost about 4,000 yuan and more.
Chinese Android brands are in need of a leader after Huawei lost its crown due to a United States technology ban. This has created more space in the market for Apple and other Android brands, said IDC analyst Wang Xi.
In June, Oppo announced its integration with OnePlus to expand in the domestic market.
In the second quarter, the top five smartphone brands in the domestic market were Oppo, Vivo, Xiaomi, Apple and Honor, according to CITIC Securities.
In the first half, OnePlus sales grew 257 percent thanks to growth from overseas, with 428 percent growth in the U.S. smartphone market, 304 percent in Europe and 229 percent in India, the company said.