In a dramatic development that carries grave implications for the wider industry, OnePlus is reportedly on the verge of collapse as a number of headwinds coalesce to form a daunting operating environment.
According to an that leveraged extensive interviews with current and former employees, OnePlus is now a business facing evisceration.
OnePlus sales are in a freefall
In 2024, OnePlus sales declined over 20 percent to between 13 million and 14 million units from around 17 million units in 2023.
In the same timeframe, the parent company of OnePlus, OPPO, grew by 2.8 percent.
Meanwhile, OnePlus decimated its market share in India through a combination of razor-thin retailer margins and issues with warranties, with the brand's share of the premium smartphone segment plummeting by around 70 percent in India over the past 12 months.
In the same vein, the struggling brand's market share in its core market of China dropped from 2 percent to around 1.6 percent by the end of 2024.
With India and China accounting for 74 percent of OnePlus sales now, the brand can't afford its ongoing sales weakness in these two critical regions.
OnePlus is shuttering headquarters and cancelling products
To top it off, OnePlus shuttered its Dallas headquarter, which housed its US operations, in March 2024. And, its Palo Alto office now houses just 15 employees who cater to the entire North America.
This comes as OnePlus now has no partnership with a US carrier, with its tie-up with T-Mobile ending back in 2023. And, the brand's European operations have disappeared entirely.
The brand is also jettisoning upcoming projects like its Open 2 foldable phone and the 15s compact.
Back in 2022, OPPO pledged $14 billion to revive flaghing fortunes of OnePlus, opening up their service centers and allowing the brand to sell its phones for zero profilt. None of these steps have worked. And, just a few days back, Taiwan issued an arrest warrant against OnePlus CEO over illegal recruitments.
And now, when OPPO just gutted Realme, OnePlus is primed for a slow and steady death. The brand won't disappear overnight. But OPPO does not look inclined to give OnePlus anymore resuscitation oxygen. As such, a OnePlus 16 looks more unlikely than ever.
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