OnePlus enters the billion-dollar sales club

Having broken the billion-dollar sales record for the first time and making profit, OnePlus is pleased to have achieved a rare feat in the ultra-competitive mobile market.

An elated Pete Lau, the company’s chief executive said that its revenues last year had doubled to more than $1.4bn (£1bn) and that this resulted into healthy profits. It now plans to challenge bigger players by tying up with mobile networks in the US and Europe.

The smartphone market globally has been flooded with Chinese handsets, making it competitive for every new and existing players. This has also resulted in many established brands running huge losses. While OnePlus pales to most of its rivals in size, the CEO said that OnePlus has had healthy margins by focusing only on the high-end of the market. Though it has recently started selling its phones through the distribution network in the UK, it mostly sells its mobiles directly to its fans online, instead of mobile networks.

It has not disclosed revenues since 2014. But Lau wants his company to be more transparent about revenues so that it does not lose faith of its shoppers. “If a company isn’t healthy, consumers will think twice about buying a product from them,” he said. “We want to send a signal that we are a healthy company.”

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