OnePlus clocks Rs 500 cr revenue during two days of festive sale in India

Premium smartphone company OnePlus on Tuesday said it has recorded Rs 500 crore revenue in two days of festive sale on Amazon.in.

"The recently unveiled OnePlus 7T and the OnePlus TV 55Q1 saw tremendous uptake registering the highest-ever sales in the premium smartphone category and the TV category respectively on Amazon.in," a statement said.

OnePlus has seen over 100 per cent growth as compared to the previous year, it added.

"India is one of our most important markets and we will strive to ensure an unparalleled, superior experience for our users," OnePlus India General Manager Vikas Agarwal said.

Last week, OnePlus had launched its OnePlus TV in the Indian market, making India the only country to have the product. It plans to take its smart TV to other markets in the future. It had also announced the launch of OnePlus 7T smartphone.

"Our affordability programs such as no-cost EMI, exchange, instant bank discounts and more continue to enable record number of customers to upgrade to premium phones this festive season," Amazon India Vice President - Category Management Manish Tiwary said.

Amazon.in had said it had sold premium phones worth Rs 750 crore from Apple, Samsung and OnePlus in the first 36 hours of its festive sale that started on September 29 and will end on October 4.

OnePlus, which competes with Samsung and Apple in the premium smartphone category in India, has also announced plans to increase headcount at its new R&D centre in Hyderabad by up to five-fold as it looks to make the facility its largest globally in the next three years.

The research and development centre, which has received a commitment of Rs 1,000 crore investment, has an employee strength of about 100 people at present.

India is among one of India's largest markets for OnePlus, accounting for around 33 per cent of its global revenue.

According to Counterpoint Market Research, OnePlus emerged as the best-selling premium smartphone brand of 2018 and also led the premium smartphone segment (priced over Rs 30,000) for three consecutive quarters, capturing 36 per cent of the market in October-December 2018.