May 29: Counterpoint Research has named Chinese smartphone brand OPPO as the fastest growing brand in the premium segment globally in 2018. OPPO claimed that its astonishing growth of 863 percent helped the company take 6 percent market share in the category.
While there were many factors behind this staggering growth rate, including the entry into several markets as well as new carrier partners, the most significant were, of course, the products, according to a statement issued by the company.
Besides the strong market position in China, OPPO’s newly launched countries have contributed to the outstanding result, the statement added.
This included the entry into European markets such as France, Spain, Italy, and the Netherlands. The company said that the total number of markets where OPPO has its presence is above 40 for the first time.
“Reinforcing these new market entries, OPPO announced several new carrier relationships, including Telefonica in Spain and Orange in France, as well as partnerships with leading retailers that all enhance the marketing and service concerning OPPO smartphones,” the statement said.
The statement added that Counterpoint estimates the premium smartphone segment to continue growing in double digits while going forward, while the next growth cycle in the premium segment will be driven by the emergence of commercially available 5G smartphones.