Q2 2024: OPPO (OnePlus): Refocus on Core Strengths Amid the Falling Track

OPPO and OnePlus combined saw an 8% YoY decline in smartphone shipments in Q2 2024. This marks the 11th consecutive quarter of decline, although the rate has slowed. The company significantly underperformed and being the only major brand among top ten list registering the annual decline rate this quarter. OPPO brand experienced a 5% YoY decline, while OnePlus saw a 22% YoY drop. In response to economic uncertainties and increasing competition, the vendor is streamlining its portfolio and re-focusing on its core strengths.