Lawstreet Journal

OnePlus to invest Rs 100 crores to expand retail presence in India

Lawstreet Journal 16 Oct 2020 8:06pm

Image courtesy: Lawstreet Journal Business OnePlus to invest Rs 100 crores to expand retail presence in India

OnePlus is making an investment of Rs 100 crore to expand its offline retail presence in India. It will open 3,000 new stores in even tier 3 and tier 4 cities in line with its strategy to expand to a much wider user base with its smartphones, smart TV and connected devices.

The Chinese Smartphone maker company, which unveiled its latest OnePlus 8T phone priced Rs 42,999 onwards on Wednesday (October 14, 2020), is also focused on strengthening its manufacturing in India and will make its complete line up of smart TVs locally by 2021.

Speaking at the sidelines of the launch event, OnePlus India Vice President and Chief Strategy Officer Navnit Nakra said, "We will get into aggressive retail expansion. We will be investing nearly Rs 100 crore towards deeper market penetration by taking our premium offline experience, which is right now mostly in metro cities and going beyond the metros and expanding to new online and offline retail partnerships.”

He further said that the company looking at launching 14 new stores in the next six months company was planning to take its premium and the mid-premium smartphones to more markets in India than ever before. "We are seeing a phenomenal amount of demand coming from outside the top four metros and top 10 cities."

He noted, we are monitoring the covid-19 situation and the expansion will be a little tempered and being mindful of the situation,” 

"At present, we have 30-plus OnePlus Experience Stores and this is a number that we’ll look at… Continue Reading...

Tagged: One Plus  
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