OnePlus is a company which has won many hearts all over the world. It has managed to do so over a period of time which is astonishing, to say the least. To say that OnePlus is a company which is only 6 or 7 years old is just outlandish. They have gained a lot of praise for their software, hardware, marketing, and customer feedback consumption. They have taken customer feedbacks to another level. They actually listen to their customers.
Their Indian market is also a success. They did not hold back to exploit the Indian market. Many companies come with policies which are to delay the launch of their phones in the Indian market. However, OnePlus favored the Indian people and Indian people have surely favored them back. Indian people are not necessarily brand sensitive, they mostly price sensitive according to MTRF research. And OnePlus struck that chord and have earned the respect of the Indians.
It gradually increased its phone’s prices from INR 15 thousand to now INR 39 thousand. It is quite liberating to see that the price-sensitive Indian consumers have stuck to OnePlus throughout these years even after the hike in price. That said, the Indian market has grown over the years and so have OnePlus. Along with the change in the mentality of the Indian consumers, there has been a change in the OnePlus’ approach as well. It has quietly gone from a flagship killer to a full-fledged flagship and has made a sector of its own.
That said, OnePlus India has recorded an enormous growth in the last fiscal year. In the Financial Year 17, OnePlus’ revenue was at INR 37.97 Crore. In the FY18 it has now grown to a staggering INR 150 Crore. The almost five-fold growth of OnePlus is proof of its outstanding achievements in India. Its profits have been amazing as well. It had recorded a profit of around INR 2.84 Crore for the year FY18 which was around INR 90.16 lakh a year before that.
This kind of numbers will encourage OnePlus to market their phones better and faster in India. OnePlus India is touted to grow even further in 2019. With Pete Lau already announcing that OnePlus 7 will be groundbreaking on many levels and is going to support 5G. They have already secured a manufacturing plant in Andhra Pradesh. This might be able to lower down the prices of the phones and we might see physical stores of OnePlus in the near future.
– Unmesh Phule