According to data recently shared by Counterpoint Research’s Market Monitor Service, OnePlus, a global mobile technology challenger to traditional OEMs, has managed to grow and gain a foothold in the market, despite the global premium smartphone market declining by eight percent in Q1 2019.
OnePlus, a six-year-old emerging global technology company has maintained its presence in the global top five premium smartphone segment since 2018. Given lengthening replacement cycles, political and economic uncertainty, and increased market competition and saturation, this status is a notable feat from an emerging brand.
OnePlus CEO Pete Lau, said, “While we are at the stage where the industry is changing in a rapid pace, we see this as an opportunity for OnePlus to gain ground in the premium smartphone market. Our ‘Never Settle’ approach to constantly offer the best technology possible has made us one of the top five premium smartphones and it will continue to help build our user community and increase the brand’s global presence.”
Even with the challenging market outlook, from 2017 to 2018, OnePlus smartphone sales increased by 45 percent and in 2018. The brand has broken through in India as the top-selling premium smartphone, steadily gained attention in Western Europe, and is one of the top five smartphones in North America. OnePlus is benefitting as consumers are looking outside of traditional OEMs and are switching to new devices from challenger brands.
OnePlus’ strong performance came on the back of the launch of the OnePlus 6T where the brand recorded its highest ever shipments in a single quarter (Q4 2018) in India. Looking to build on the significant success of the OnePlus 6T, the OnePlus 7 Pro was launched in May 2019 featuring an industry-leading display that has received an A+ rating from the DisplayMate.
As the up and coming member of the top five premium smartphone brands, OnePlus is set to capitalize on the recent difficulties of the market. The relative stagnation of the traditional players allows for smartphones with emerging brand recognition like OnePlus to capture more market share going forward.