OnePlus to focus on overseas growth to offset falling domestic sales

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 today. 

OnePlus' revenue totaled 10 billion yuan (US$1.59 billion) in 2017, with over 70 percent coming from overseas markets. 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 in the Indian market for models priced at over US$400, said Chief Executive Liu Zuohu.

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 today. To woo high-end consumers, its Avengers-branded limited edition of OnePlus 6 costs 4,199 yuan.