OnePlus set to invest ₹100 crore for expansion1 min read . Updated: 15 Oct 2020, 07:07 AM IST
The company is looking at launching 14 new stores in the next six months.
Chinese smartphone maker OnePlus on Wednesday said it will invest ₹100 crore towards expanding its offline retail network as it looks to strengthen its reach in tier II cities and beyond in the country.
The company, which unveiled its latest OnePlus 8T phone priced ₹42,999 onwards on Wednesday, is also focused on strengthening its manufacturing in India and will make its complete line up of smart TVs locally by 2021.
“...we will get into aggressive retail expansion. We will be investing nearly ₹100 crore towards deeper market penetration by taking our premium offline experience, which is right now mostly in metro cities and going beyond the metros and expanding to new online and offline retail partnerships," OnePlus India vice president and chief strategy officer Navnit Nakra said.
He added that the company is looking at launching 14 new stores in the next six months.
It will also help expand the company’s service centre network from 65 cities to 100 cities in the next one year.
“Our strategy is intertwined with how we take the premium and the mid-premium smartphones to more markets in India than ever before...We are seeing a phenomenal amount of demand coming from outside the top four metros and top 10 cities. “And this is not only happening for the premium but also the mid-premium space, also happening to the smart TVs as well," he said.