India: Premium smartphone brand OnePlus outlined plans for its first research and development facility in India at Hyderabad, which it said will grow to become its biggest such centre globally in three years.
The company said the facility will play a critical role in the development of artificial intelligence and machine learning software for its products as well as drive local innovations. OnePlus India head Vikas Agarwal that they plan to set up a dedicated R&D team in the country that will focus on India-specific developments, alongside plans to open its second global headquarters in the country. India is currently one of the biggest markets for OnePlus.
In a press statement, OnePlus said it chose Hyderabad since the city offers a sizeable talent pool, especially in the area of emerging technologies. Hyderabad is also one of their fastest growing markets in the country. OnePlus will also initiate campus hiring program at a number of universities including the IIT Delhi and IIT Mumbai this year, the company said in a statement. “In three years, we plan to grow the new R&D centre in Hyderabad into our biggest globally. We plan to re-focus our R&D efforts on a large scale and drive innovations in India for the global product, especially on the software side with a special emphasis on Artificial Intelligence and Machine Learning,” said Pete Lau, Founder, and CEO, OnePlus while discussing the company’s plans in India. OnePlus held a 37 percent share in the Indian market for Q3 2018. This outperforms majors like Apple and Samsung, who established a share 30 percent and 26 percent respectively.
According to BlueWeave Consulting, the premium smartphone market in India is growing at twice the pace of the overall market which is growing at 10% with brands like Xiaomi, Oppo, Vivo, and Huawei now trying to enter this segment. The premium segment contributes 3% by volume and 10% by value of the overall smartphone market in India. Moreover, the brand OnePlus has become much more mainstream now and has been able to penetrate beyond the core audience of techies to include professionals and women consumers.
According to the upcoming report by BlueWeave Consulting on “Global Smartphone Market Size, By Operating System, By Distribution Channel, By Region, Industry Analysis, Trends & forecast, 2018-2025”, the global smartphone market is expected to witness significant growth over the forecast period. Smartphones are the most demanded electronic devices today owing to an alteration in the lifestyle of people, where owning a smartphone is not just a necessity but a norm. Increasing disposable income increases the probability of consumer spending on media, entertainment, and networking and mobile communication; leading to higher potential sales of consumer electronics such as smartphones, tablets, laptops, and gaming consoles. The instances of smartphone adoption are very high among the urban population as compared to the rural population owing to the high demand for smartphones in developed regions.