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OPPO India MD Yi Wang to step down

Press Trust of India  |  New Delhi 

Chinese has said its will step down effective November 30.

"During a meeting between the Board of Directors of Mobiles Pvt Ltd on November 28, 2018, it has been mutually decided that Yi Wang, Managing will step down from his position, effective November 30," an said.

The company, however, did not give any reason for the decision. It is yet to name Wang's successor.

"Wang has been an important part of OPPO's journey in and has played a crucial role in the company's success in the country, since it entered the Indian market. We thank him for his valued contribution and wish him the very best for his future endeavours," the said.

India is a key market for players as it continues to grow at a strong pace. According to research firm IDC, shipments in India touched an all-time high of 42.6 million units in July-September 2018, registering a year-on-year growth of 9.1 per cent.

led the tally with 27.3 per cent market share, followed by (22.6 per cent), (10.5 per cent), Micromax (6.9 per cent) and OPPO (6.7 per cent).

In a separate statement, OPPO announced an increase in R&D spending to RMB 10 billion (about USD 1.43 billion or Rs 9,986 crore) next year -- a 150 per cent year-on-year increase.

The company said it will continue to increase investment on a yearly basis.

With the increased R&D capital, OPPO will integrate its and build on its technical expertise to enhance the company's technological capabilities, it added.

"Furthermore, OPPO will leverage AI to develop a range of smart devices, including smart watches and smart home technologies, to explore and meet the increasingly rigid demands of consumers in the age of the Internet of Things (IoT)," the statement noted.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 29 2018. 20:10 IST