Subject category:
Marketing
Published by:
Amity Research Centers
Length: 14 pages
Data source: Published sources
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Abstract
OnePlus, a Shenzhen based company co-founded by Pete Lau (Pete) and Carl Pei (Carl) in December 2013 envisioned to produce premium Android-based smartphones at affordable price. OnePlus entered the market in 2014 with OnePlus One, and positioned it as the 'flagship killer'. OnePlus, with its single product focus received tremendous response due to its invite-only strategy, word of mouth marketing, and top-notch customer experience. The company had targeted tech-savvy people who demanded high spec handsets. By offering a new flagship product every six months, OnePlus continued to do well and kept its growth trajectory to achieve USD1 billion revenue mark in 2018 and emerged as a leader in the high-end smartphone market in India leaving behind its nearest rivals like Samsung and Apple in the race. OnePlus' innovative practices of coming up with a strong product with the features desired by the customers paid off. Having earned a global recognition by launching eight smartphones in a span of five years, OnePlus announced its plans to enter into the television segment in September 2018. Tech Analysts were surprised with this announcement and pondered: What made OnePlus to shift from its Single Product strategy? Was building Smart TV a natural evolution for the company? Would OnePlus be able to carve a niche in the Android TV segment besides sustaining its performance in the highly competitive smartphone segment?
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Abstract
OnePlus, a Shenzhen based company co-founded by Pete Lau (Pete) and Carl Pei (Carl) in December 2013 envisioned to produce premium Android-based smartphones at affordable price. OnePlus entered the market in 2014 with OnePlus One, and positioned it as the 'flagship killer'. OnePlus, with its single product focus received tremendous response due to its invite-only strategy, word of mouth marketing, and top-notch customer experience. The company had targeted tech-savvy people who demanded high spec handsets. By offering a new flagship product every six months, OnePlus continued to do well and kept its growth trajectory to achieve USD1 billion revenue mark in 2018 and emerged as a leader in the high-end smartphone market in India leaving behind its nearest rivals like Samsung and Apple in the race. OnePlus' innovative practices of coming up with a strong product with the features desired by the customers paid off. Having earned a global recognition by launching eight smartphones in a span of five years, OnePlus announced its plans to enter into the television segment in September 2018. Tech Analysts were surprised with this announcement and pondered: What made OnePlus to shift from its Single Product strategy? Was building Smart TV a natural evolution for the company? Would OnePlus be able to carve a niche in the Android TV segment besides sustaining its performance in the highly competitive smartphone segment?