In this news, we discuss the OnePlus to invest Rs 100 cr to expand retail presence in India.
Chinese smartphone maker OnePlus on Wednesday said it would invest Rs.100 crore in expanding its offline retail network as it seeks to strengthen its reach in Tier II cities and beyond in the country. The company, which unveiled its latest OnePlus 8T phone on Wednesday priced at Rs 42,999, is also focusing on boosting its manufacturing in India and will manufacture its full line of smart TVs locally by 2021.
“… We will be embarking on aggressive retail expansion. We will invest nearly Rs 100 crore for deeper market penetration by taking our premium offline experience, which is currently mainly in metropolitan cities and going beyond subways and expanding into new sales partnerships in online and offline retail, ”OnePlus India Vice President and Chief Strategy Officer Navnit Nakra told PTI. He added that the company plans to launch 14 new stores in the next six months.
It will also help expand the company’s network of service centers from 65 cities to 100 cities over the next year. “Our strategy is closely linked to how we bring premium and mid-premium smartphones to more markets in India than ever before… We are seeing phenomenal demand coming from outside of the four major metros and the top 10 cities.
“And that’s not just happening for the high end, but also the midrange, which is happening to smart TVs as well,” he said. Nakra said OnePlus already has around 5,000 points of sale (PoS) and the Rs 100 crore investment will help expand that figure to around 8,000 points of sale.
This expansion, he noted, would depend on how the COVID-19 situation evolves as the company is aware of the situation. “OnePlus would have created almost 25,000 direct and indirect jobs in manufacturing, retail, R&D and service sectors by the end of 2020 and, therefore, we have a direct responsibility to ensure that while developing and investing, we also pay close attention to security protocols. ,” he said.
He added that the stores are a combination of the company’s experience stores and those with partners. “… Right now we have over 30 OnePlus Experience stores and that’s a number we will consider increasing to 40-45 in the next six months. The majority of our retail stores are partnered with larger institutions such as Reliance Digital, Poorvika, Sangeetha, Croma, Vijay Sales, Bajaj Electronics as well as modern large and mid-sized business and trade partners, ”he added. he declares.
Nakra said the company is working to expand the user base and attract new consumers. For this, it seeks to tap into customers who are looking for strong brands, but who are not necessarily fond of flagship models (which are also at great prices). “The diversification of price segments and the diversification of products is something that has been on our mind and I think 2020 has been a year where we have seen this strategy unfold and execute very well,” he said. he adds.
Speaking of manufacturing, he said the 8T was another product made in India. “100% of our smartphones were made in India and by 2021 all OnePlus TVs will also be made locally,” he added.
The OnePlus 8T 5G open sale will begin on October 17. It will be available in two variants of 12GB RAM / 256GB memory and 8GB RAM / 128GB memory.
The device has a 6.55-inch 120Hz AMOLED display, Qualcomm Snapdragon 865 chipset, improved 65W fast charging technology, and a 4,500mAh battery. OnePlus 8T launch comes a day after Apple unveiled its new 5G compatible iPhone Range of 12 (priced from Rs 69,900) which will hit the Indian market on October 30th.
According to Counterpoint Research Associate Director Tarun Pathak, this will be the strongest line of iPhones ever created in India and will help Apple capture a 2% share in the fourth quarter of calendar year 2020. “We have seen the share of the news iPhone within Apple’s overall sales during the launch quarter increasing year by year and this year so will be iPhone 12 mini… ”Pathak said.
“We believe that overall sales will be driven by iPhone 12 mini, iPhone 11 and XR, which will likely be the top sellers for the holiday season. We believe that users will wait for the iPhone 12 mini which is placed very close to Diwali, ”he added. Pathak said this will lead to stiff competition in the premium segment and with the launch of the 8T series by OnePlus, consumers are expected to have some tough choices to make in the premium segment.
“OnePlus is likely to do well especially in the Rs 30,000-50,000 segment with its largest portfolio ever and incorporating the latest features from display to fast charging and processor. “Samsung, on the other hand, is also expanding its portfolio with aggressive offers on its older generation flagships. So it will be a battle between the ecosystem and the latest features and prices, ”he added.
- The company, which unveiled its latest OnePlus 8T phone on Wednesday priced at Rs 42,999 and above, is also focusing on boosting its manufacturing in India and will manufacture its full line of smart TVs locally by 2021. “… we’ll come in. in aggressive business expansion.
- OnePlus invests Rs 100 cr to expand its retail presence in India