APN News

  • Wednesday, September, 2018| Today's Market | Current Time: 08:05:20
  • By Sachin Murdeshwar


    Mumbai 
    : According to the latest research from Counterpoint Market Monitor service, OnePlus (284%) has emerged as the fastest growing smartphone brand during the quarter, leading the premium (>INR30,000) segment for the first time ever. OnePlus 6 was the best-selling model in the premium segment, making it the leader for the full quarter, surpassing Samsung and Apple. Currently, OnePlus enjoys a 40% market share while Samsung and Apple stand at 34% and 14% respectively.

     

    Pete Lau, Founder and CEO, OnePlus captures his thoughts on the Indian market in a forum post. He speaks extensively about OnePlus’ journey in India and where the company is headed. “I am truly humbled by the passion exhibited by our community and the trust that our partners have placed in us.

    India is our benchmark for creating successful global products. This young market is now set to become our second homeground and a centre for product innovation.”

     

    OnePlus was also the fastest growing brand in the premium segment (+446%) while shipments for Apple and Samsung declined YoY. OnePlus is now increasing its points of sale by launching its offline and exclusive stores across key cities. This will enable the brand to reach out to a larger user base going forward, as the premium segment market is estimated to grow faster than the overall smartphone market in India for CY 2018 and beyond.

     

    “The steady focus on high-end flagship smartphones and unprecedented community connect helped OnePlus earn user trust and spread brand awareness through word of mouth. OnePlus became a strong, No. 1 brand in premium segment with 40% share within just 14 quarters of entering India as well that also catapulted it into the coveted group of the 5 biggest smartphone brands with over 4% revenue share for the first time ever,” said Neil Shah, Partner & Research Director, IoT, Mobile & Ecosystems, Counterpoint Research.

    Additionally, the OnePlus 6 has been OnePlus’ fastest selling smartphone till date, selling over 1 million units within just 22 days of its global launch. The brand has successfully maintained its position amongst the top 3 premium smartphone makers in India for the last three quarters. OnePlus takes pride in the fact that it is leading in a competitive market like India based on their one flagship a year strategy and relying only on word of mouth policy to drive it, instead of resorting to heavily funded marketing campaigns. Overall, the smartphone market returned to double digit growth (19%) YoY after flat first quarter growth.

    In terms of best-selling models, OnePlus 6 was the best-selling model in premium segment followed by Samsung S9 Plus and OnePlus 5T.

    In a display of gratitude to the community that was at the forefront of OnePlus’ journey from the beginning, the company has announced exclusive offers for anyone purchasing the flagship OnePlus 6 starting 1st August 2018. On the purchase of OnePlus 6, customers are eligible for INR 1500 cashback on ICICI Bank credit card EMI transactions across all online and offline channels. OnePlus has also introduced 6 months no-cost EMI on all popular bank debit and credit cards on all amazon.in and all offline channels. Starting 3rd August 2018, consumers can avail INR 1500 extra off on exchange of old smartphone on Amazon.in. For more information, please visit official website – oneplus.in or follow OnePlus on Facebook and Twitter.