OnePlus Doubled Its Revenue To $1.4 Billion In 2017
OnePlus doubled its revenue last year and saw it surpass $1.4 billion, founder and Chief Executive Officer Pete Lau told The Telegraph. The entrepreneur didn’t attach a specific figure to the company’s bottom line but did say OnePlus recorded “healthy profits” over the same period.
The Shenzhen, Guangdong-based phone maker disclosed its revenue only once until now, having revealed it had a $300 million turnover in its founding year of 2014, though the newly unveiled information also suggests it recorded $700 million in proceeds over 2016.
Its performance increase is largely in line with the company’s statements about the popularity of its previously released devices; the firm said all of its Android flagships after the 2014 OnePlus One were its fastest-selling products following their release, implying its business is consistently growing and continues to do so to this date.
Mr. Lau claims he opted to disclose the OEM’s revenue so as to assure potential customers OnePlus is in a healthy state and good position to continue supporting its devices going forward, adding that “consumers will think twice” about committing to any product if they’re skeptical about the prospects of the business behind it.
As part of the same interview, the executive also reiterated OnePlus is presently in the early stages of discussing potential retail partnerships with a number of wireless carriers in the United States, saying that the company intends to earn their trust with its products but without providing any details on the matter.
Being carried by any of the four national mobile service providers in the U.S. would provide OnePlus with a major entry point into the world’s largest market for flagships, the company’s main product category in which it’s trying to undercut its competition.
Such a feat is still far from certain, with even the much larger Huawei being unable to score a carrier deal despite recently coming close to signing one with AT&T following reported pressure from certain intelligence committees concerned about the OEM’s ties to the Chinese government.
The latest offering from OnePlus was released in November, having debuted in the form of its first relatively bezel-free device marketed as the OnePlus 5T. Mr. Lau said the firm is planning to continue with its annual product roadmap going forward and release two new high-end smartphones this year, with the OnePlus 6 being set for a Q2 launch, whereas the OnePlus 6T is likely to debut in late 2018.