India centrepiece of our growth strategy: Oppo

NEW DELHI: Chinese handset maker Oppo considers India the “centrepiece” of its global growth strategy and is in an “investmentheavy phase” in the country, a top executive said. “We have a clear India strategy, going forward, and will continue to add to our product offering in India to expand our ever-growing base,” Charles Wong, India president for Oppo, told ET. “We have a strong leadership team in India that is well equipped for taking over the responsibility of strategic stewardship of Oppo in India.”Wong’s comments come after the departure of Oppo’s India managing director Yi Wang amid widening of losses and intense competition in the country. Oppo’s net loss in India widened to Rs 358 crore in 2017-18 from Rs 42 crore in the previous year, as per documents filed with the Registrar of Companies (RoC). It reported a net loss of Rs 7.78 billion for the half year ended September 30, 2018. Analysts attributed the widening of loss to high marketing spend.“India is a high priority market which forms the centrepiece of our global growth strategy,” Wong said. He did not share investment figures but said the company will continue with its marketing plan to tap “an aspirational audience in tier II regions who are fuelling the demand for smartphones in India”. “Our associations with sports, entertainment and lifestyle that connect with our primary target audience, will continue in India as we see it as one of the largest markets for our products,” Wong said. The company strengthened its India team by appointing Tasleem Arif as vice-president and head of R&D. “We’ll make the announcement of India MD at an appropriate time,” said Wong.

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