Smartphone producer Oppo to open single-branded retail stores in India

By BizClik Admin

Chinese smartphone producer Oppo will open direct retail stores in India.

The firm will now be able to sell directly to Indian consumers in the world’s third-largest smartphone market.

Oppo describes itself as “a camera phone brand enjoyed by young people around the world” and has been in operation since 2004.

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Oppo was named fourth largest smartphone producer by Strategy Analytics among other lists, after usual suspects Samsung, Apple and Huawei.

Recently due to an increase in sales, tech unicorn Xiaomi took fifth place.

India allows foreign firms to sell directly to consumers via “single-branded retail” routes provided they agree to source 30% of their products locally.

This will add to the firm’s current wholesale business.

India’s Foreign Investment Promotion Board approved the request made by Oppo Mobiles India Pvt Ltd on Tuesday.

Four other Foreign Direct Investment (FDI) proposals were also approved this week, including luxury goods retailer Louis Vuitton, Chumbak Design, Daniel Wellington and Actoserba Active Wholesale.

Oppo’s rival Apple is also trying to gain a space in the Indian market. In May, the government offered to allow Apple to import mobile handset components tax free if they were intended for use in local manufacturing.

In 2016-17, FDI as a whole in India has grown 9%.

 

 

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