In an Interview with FastCompany, OnePlus CEO Pete Lau has said the Shenzhen based company is going to make affordable smartphones again. OnePlus once known for making high end specification smartphones with super cheap price want to change their strategy to make affordable phones again also they are planning to expand into other products as well. Pete Lau have reiterated that even though the devices will be affordable, it will have the OnePlus product standard.
In 2013, OnePlus introduced One Plus One for $300 with almost the flagship standards. They sold the devices exclusively through Invites and flash sales. Since then their products kept highly competitive with the other flagship models but the cost kept increased. Now, after 6 years the pricing is at $700 for OnePlus 8 and OnePlus 8 Pro at $800 which kept some of their fans away from the brand.
OnePlus Launched OnePlusTV and Neckband earbuds in 2019 for the Indian market to diversify their product categories other than the smartphones, which many of their android competitors have tried and got into serious financial losses due to lose of focus in their core products. Lau says that OnePlus will be different and company has a sustainable growth.
OnePlus is still a very young brand and they are constantly evaluating their strategy and adapting to the marketing conditions and creating a strategy for a long term.
