Yi Wang, managing director of handset maker Oppo Mobiles India, has stepped down. Oppo informed the Bombay Stock Exchange on Thursday, in a regulatory filing, that its board has accepted Wang’s resignation and he will relinquish the position on November 30.
Wang’s exit comes at a time, when the Chinese handset company is suffering from widening losses in India. According to documents filed in the Registrar of Companies (RoC) Oppo’s net loss expanded to Rs 3.58 billion in 2017-18 from Rs 0.42 billion a year ago. Industry analysts pointed towards the large sums that the popular smartphone maker is spending