OnePlus Now Holds 2% Share In Premium Smartphone Market
Even though it has been six years since OnePlus came into existence, it is still a young company in comparison to the likes of Apple and Samsung. The company launched its first handset in the year 2013 which was the OnePlus One. The device due to its worthy hardware and software received a warm welcome from the global audience.
Following the successful launch of its first handset, the company has never looked back. A freshly shared report by counterpoint research has revealed intriguing findings of the company’s performance. The report states that OnePlus’ has managed to grow steadily, despite the fact that the global premium smartphone market fell by eight percent in Q1 2019.
Notably, the company now holds 2 percent of the global smartphone shipments in the premium segment. Considering the fact that it has been limited to China, India and European markets until the second half of 2018, this achievement is worthwhile for the company.
The company has been registering strong growth since 2017. Notably, its sales increased over 45 percent in between the Q1 of 2017 and Q1 of 2018. Especially in India, the OnePlus 6T became the top selling premium smartphone. Besides, it is currently one of the top five smartphone companies in North America and has also recorded an upward graph in Western Europe.
In contrast, Apple which is the leader in the premium smartphone market saw a decline of 7 percent as it’s market share fell from 58 percent to 51 percent between the Q1 of 2017 and the subsequent year. Likewise, the Korean giant, Samsung also recorded a slight drop in market share during the same time period as the market share fell from 23 percent to 22 percent.
Following the launch of OnePlus 6T, the company registered its highest ever shipments in a single quarter (Q4 2018) in India. Falling into the footsteps of their predecessor, the company has launched two new handsets which include the OnePlus 7 and the OnePlus 7 Pro.
OnePlus, in a press letter boasting of its achievement is hyped up for the market performance of its current gen device in the coming time. The company aims to further increase it reach in the global premium smartphone.
All in all, only time will tell what the future beholds for the company.