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As per a July 2019 survey, OnePlus reported smartphone sales in India, which were double that of other leading brands such as Samsung and Apple. Since its launch in the country’s market, OnePlus’s reputation has grown rapidly. Today, its smartphones are in high demand, thanks to their impeccable quality, competitive pricing, and feature loaded models.
Owing to this success, OnePlus began mobile manufacturing in India recently. Here are some of the benefits that the company can expect by adopting manufacturing incentives such as benefits under the ‘Make in India’ initiative.
Advantages of for OnePlus manufacturing handsets in India
- Improved pricing model
Previously, OnePlus had to resort to importing most of its smartphones into the country, as they lacked proper facilities for mobile manufacturing in India. It led to an addition of tariffs and other taxes to the final price of the device itself. Thus, Indian customers had to pay more than the actual price of these smartphones.
However, local production would prevent such additional charges from being levied to a OnePlus handset’s selling price. It would benefit the customers significantly. Similarly, competitive pricing would boost sales, leading to heftier profits for the company.
- Attractive government incentives
Smartphone companies, such as OnePlus, can also benefit greatly by their mobile manufacturing in India through government-backed incentives. For example, in 2020, the Indian government approved a production-linked incentive plan for 16 leading smartphone manufacturing companies.
Using this plan, companies can make between 4% and 6% extra profit from their sales in the local market. This facility would be available for the next five years to the approved companies.
- Growing dislike for products manufactured in China
OnePlus is a Chinese brand, which has faced some flak in the Indian market in the past due to growing tensions between the two countries. Customers are ready to boycott any and all Chinese manufactured items under such a condition. However, OnePlus can avoid this situation with its ‘Make in India’ manufacturing facility.
Today, the company runs R&D centres in India, alongside its manufacturing plants. Therefore, with India-made products, chances of geo-political issues disrupting revenue are limited by a significant degree. Such a move will likely lead to impressive sales of the company’s upcoming 5G phones.
Even with lower prices, the premium handsets from OnePlus can burn a hole in your pocket. Bajaj Finserv EMI Network members can thus take advantage of instant no-cost financing facilities when buying such products. Converting the bill into monthly instalments can make these big-ticket purchases easier to handle.
However, keep in mind that you need a Bajaj Finserv EMI Network Card to avail such benefits. These cards come with a pre-sanctioned limit, which can range up to Rs.4 lakh depending on your eligibility.
These pre-approved offers expedite the credit availing process. Such offers are also available on personal loans, credit cards, and more. You can check your pre-approved offer by providing a few essential details.
With the expectedly soaring prices of the upcoming 5G phones from OnePlus, access to financing facilities can be critical. These payment instruments will thus enable you to acquire the made in India handset of your choice, regardless of its price.