OnePlus India Q2 Profits Rise Three-Fold in FY 2018
Chinese smartphone maker OnePlus' revenue and profit has grown three-fold in 2017-18, according to a report on The Economic Times report. During this period, the smartphone maker had the second-largest market share in the Rs 30,000-plus segment in the last two quarters.
The ET reported sourced the numbers from OPlus Mobitech India, a firm that undertakes mobile marketing and support services of OnePlus in India. OnePlus did not mention any resons for the growth and profits.
OnePlus has been in India only three years and analysts argue that its numbers could grow at a faster pace this fiscal as the company has already overtaken Apple and Samsung in terms of sales in the first few months of this fiscal. The new e-commerce foreign direct investment policy can although, have an impact on the sales once it comes into force next month.
After becoming the largest brand in the Rs 30,000–plus segment in the first quarter, OnePlus' market share fell to 30 percent in the second quarter of this fiscal year, the ET report also said.
(With inputs from The Economic Times.)