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Smart-phone maker OnePlus looks to focus on mid-premium price range devices, following success of the Nord model. Premium launches though will continue. This apart, TV production facilities were also ramped up to have ‘Made-in-India’ only offerings.
As a part of its India strategy, the company will invest ₹100 crore over the next one year to expand retail presence to over 8,000-plus offline touch-points from 5,000. This will include standalone brand stores.
OnePlus began its journey in India as an online-first premium smartphone brand. In the premium smartphone segment (priced upwards of ₹30,000), it enjoys a 29 per cent market share, competing with the likes of Samsung and Apple.
Reworking strategy
According to Navnit Nakra, Vice-President and Chief Strategy Officer, OnePlus India has reworked its strategy with there being a distinct focus on the mid-premium segment (between ₹20,000 and ₹30,000 price points).
“We previously focussed on the premium segment only. But it was restricting the brand association to select consumers in say top 80-100 cities. With Nord, we targeted the mid-premium range and found our accessibility reaching beyond these 100 cities and go deep into Tier-II, Tier-III, Tier-IV and Tier-V towns. Millenniels and first-time users have taken well to the device,” he told BusinessLine .
But premium launches will continue. The OnePlus 8T 5G – a flagship device – was launched on Wednesday.
In the smart TV segment, the company found success in the 32- and 43-inch categories – priced below ₹15,000 and ₹25,000 respectively. “In all the categories of TVs we have done well. But the highest traction was in these two segments. Accordingly, we shore up manufacturing and have ramped up supply chains,” he said.
The final part of OnePlus India’s strategy is increasing presence in connected devices that include wearables like smartwatches.
Other devices
“We are looking at the wearable cateogory over the next few quarters; with expansion in personal and home category offerings,” Nakra said adding that work will also begin on “connected cars” as 5G roll out happens.
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