OnePlus, a Chinese consumer electronics company founded in 2013 by Pete Lau and Carl Pei, has transformed the smartphone market with its innovative designs, performance-focused devices, and aggressive pricing. The brand’s philosophy of “Never Settle” resonates with tech enthusiasts, offering premium features at competitive prices.
OnePlus debuted with the OnePlus One in 2014, a device that quickly garnered attention for delivering flagship-level specifications at a fraction of the cost of competitors like Apple and Samsung. The company adopted an invite-only sales model initially, generating exclusivity and anticipation among consumers.
Owner of OnePlus
OnePlus is owned by BBK Electronics Corporation, a large Chinese multinational company headquartered in Dongguan, Guangdong. BBK Electronics is also the parent company of other well-known smartphone brands, including Oppo, Vivo, and Realme.
OnePlus was founded in 2013 by Pete Lau and Carl Pei as a subsidiary of Oppo, which is also under the BBK Electronics umbrella. Pete Lau, a former vice president at Oppo, played a pivotal role in creating the brand. His vision was to establish a company that offered high-quality smartphones with cutting-edge technology at a competitive price. Carl Pei contributed to the company’s growth by leading its marketing and international expansion efforts.
Although OnePlus operates independently, it shares resources and manufacturing facilities with Oppo. In 2021, OnePlus officially merged its research and development with Oppo, solidifying its integration within the BBK group. Both companies are part of BBK Electronics, which ensures their synergy in terms of production and supply chain management. This integration allows OnePlus to maintain competitive pricing while delivering premium-quality devices.
Leadership Changes and Expansion
Pete Lau continues to oversee the company as the head of product development for both Oppo and OnePlus. Carl Pei left OnePlus in 2020 to start a new venture, Nothing, which focuses on innovative consumer electronics like earbuds and smartphones
OnePlus expanded its footprint globally, targeting markets in North America, Europe, and India. India, in particular, has become one of its largest markets, contributing significantly to the brand’s success. With its direct-to-consumer online sales model, OnePlus cultivated a loyal community, making customer feedback integral to its product development
While OnePlus continues to be a dominant player in the premium Android segment, it faces stiff competition from brands like Samsung, Xiaomi, and Vivo. Additionally, the integration of OnePlus with Oppo under the parent company BBK Electronics has led to concerns about the brand’s identity and software differentiation, especially as OxygenOS converges with Oppo’s ColorOS.
Revenue and Growth
OnePlus generates approximately $956.6 million in annual revenue and employs around 2,800 people globally. Despite being smaller than giants like Samsung, the company has carved a niche by consistently offering high-quality devices at compelling price points
With innovations like 5G support, a focus on eco-friendly manufacturing, and potential forays into other smart devices, OnePlus aims to maintain its competitive edge in the tech industry. Its community-driven approach and adaptability to market trends position it as a formidable player in the years ahead.