OPPO and OnePlus' Performance in 2Q 2024 Below Expectations with Decline

TapTechNews August 21, TechInsights released a report today, stating that OPPO and OnePlus' performance in the second quarter of 2024 was lower than expected, with a year-on-year decline in shipments of 8%.

In the second quarter of 2024, the combined global smartphone shipments of OPPO and OnePlus totaled 25 million units, with a year-on-year decline of 8%. The company became the only brand among the top ten brands to experience an annual decline. OPPO's brand shipments decreased by 5% year-on-year, while OnePlus' brand decreased by 22% year-on-year.

From the product level, the market segment with a wholesale price of $100 to $299 (TapTechNews note: currently about 713 to 2132 RMB) is still OPPO's strength, and products in this price range accounted for 77% of OPPO's shipments in this quarter.

The report predicts that OPPO will continue to streamline its product portfolio and focus more on the A series and Reno series in the mid-to-high-end market in the next few quarters.

In the overseas market, OPPO is resolving patent disputes through cooperation. After reaching a settlement with Nokia in January 2024, OPPO also reached a patent agreement with Ericsson in July 2024 without involving litigation. This multi-year agreement covers important patents of cellular technology and helps OPPO return to the European market.

But OPPO still faces challenges, including the ongoing litigation with Panasonic over WCDMA and LTE patents, and the litigation with InterDigital over 3G, 4G, and 5G patents.