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Oppo’s VP says smartphone business will get a little better next year

(Yicai Global) Nov. 25 – Guangdong Oppo Mobile Telecommunication Corp.’s performance should be up. Next year as there is still stable demand for mobile phones despite the slowdown in sales this year, Sina Tech reported quoting Vice. Chief Chinese smartphone manufacturer.

Liu Bo, who is also the company’s business president in China, said that the stagnant mobile phone market this year has posed great challenges for mobile phone makers, and Oppo is no exception. He added that there will always be a demand for smartphones.

“The market demand is generally stable and there is no need to be too pessimistic or even too optimistic if the situation improves,” Liu said. The average price of smartphones has been on the rise since 2020 and users are using their devices more.

Liu said that if people in China replace their mobile phones once every three years, then in theory, even with a second-hand market, there is still a demand for 250 million to 270 million new phones annually.

He said that next year’s performance will improve slightly, but not in terms of the amount of sales. Oppo no longer only focuses on sales volume, but also takes average transaction value and total merchandise value into account.

Liu said the sales growth this year will be less than 10 percent from last year. The Chinese market is stable, and the Southeast, Indian and Latin American markets are doing well.

Oppo unveiled three Reno9 phones at an event yesterday. Liu said the Reno series now has 70 million users globally, and the repurchase rate, or the proportion of people who choose to buy the same brand again, is over 56 percent.

“We don’t have high inventory this year and we’re not under much pressure to offload inventory,” Liu said, adding that Shenzhen-based Oppo had an inventory surplus last year and the year before, but remained calm and rational.

Smartphone sales in China fell 11.9 percent in the third quarter from a year earlier, to 71.1 million units, according to US market research firm International Data Corp. Oppo took 11.6 percent of the market share, after Vivo Communication Technology and Honor, at 11.6 million units.

Editor: Kim Taylor