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OnePlus to invest ₹6,000 cr in India business over 3 years
Mint Mumbai
|December 06, 2024
Smartphone maker OnePlus on Thursday said it plans to invest up to ₹6,000 crore in its India business over the next three years, one of the largest investments by a Chinese mobile phone company in the country in recent years.
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Before this, OnePlus' sister concern Vivo had announced an investment of ₹7,500 crore in 2019, but the company has invested only ₹3,500 crore till date as per publicly available data.
According to IDC, Chinese smartphone brands clocked around 72% market share in the September 2024 quarter with BBK Electronics Group companies—Vivo, Oppo, Realme, OnePlus etc. garnering over 40% of the total pie during the reported quarter in India.
While Vivo invested majorly in developing its manufacturing ecosystem in India, OnePlus investments will be directed towards product development, boosting retail network and after-sales services and enhancing overall customer experience.
Dit verhaal komt uit de December 06, 2024-editie van Mint Mumbai.
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