OnePlus plans to launch an affordable smartphone in India soon, reveal CEO Pete Lau

OnePlus plans to launch an affordable smartphone in India soon, reveal CEO Pete Lau

OnePlus plans to launch an affordable smartphone in India soon, reveal CEO Pete Lau

OnePlus plans to make a comeback in the affordable market segment by launching new budget smartphones, CEO Pete Lau revealed in an interview. The company plans to announce its new strategy in India soon, followed by bringing its "low-priced" equipment to markets including Europe and North America later this year. The new movie by the Shenzhen-based company could add to the difficulties for Xiaomi, which has achieved great success selling mobile devices with low margins.

"We can see this as a more affordable product offering," Lau said in an interview with Fast Company, "but all the products that still remain up to the OnePlus standard ... and through it more people OnePlus enables access to products. "

OnePlus started its journey in the smartphone market by unveiling the OnePlus One in April 2014. The first model was introduced by the company as a "flagship killer", due to its capability. It was launched in India for Rs. 21,999, which was significantly cheaper than the then Samsung flagship Samsung Galaxy S5, priced at Rs. 51,500 and the iPhone 6 which came as the latest iPhone model with an initial price of 2014. 53,500.

However, in recent times, OnePlus has changed its position from being a manufacturer of affordable smartphones to a leader in the premium market. According to a report by analyst firm Counterpoint Research, the company led the premium smartphone market in India last year by beating Apple and Samsung with a 33 percent share. The latest model of OnePlus, which is OnePlus 8 and OnePlus 8 Pro, is priced at Rs. 41,999 and Rs. 59,999.

Lau did not indicate that OnePlus would stop making high-end smartphone models. However, it is clear what he has said that the company does not want to be in the premium segment alone, and plans to go ahead with its affordable model.

OnePlus refused to provide clarity on its new strategy to bring affordable smartphones when Gadgets 360 reached out via an email. Still, Lau suggested via a tweet that the company had "big plans" to move forward.

Cheap phone to power an ecosystem?

Apart from smartphones, OnePlus has started offering smart TVs since last September. Vikas Aggarwal, general manager of OnePlus India, told Gadgets 360 last year that the company intends to launch smart home devices in addition to its smart TVs to expand its footprint in the Internet of Things (IoT) market in the country. Thus, bringing low-priced smartphone models will help it grow in the world of connected devices as smartphones can be used as a catalyst to drive the IoT ecosystem.

Companies including Realme and Xiaomi are already leveraging their strong presence in the affordable smartphone market segment to build their ecosystem of connected devices. Similarly, Apple and Samsung are two great examples that have successfully locked many of its consumers into an interconnected system of devices.

Lau suggested in the interview that OnePlus is eager to go beyond smartphones and build its own ecosystem. However, details on how the company will proceed have not yet been revealed.

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