Q3 2023: OPPO (OnePlus): ASP Growth Offset Volume Decline
OPPO and OnePlus combined posted a 6% YoY decline by smartphone shipment volume in Q3 2023. Thanks to the solid ASP growth, it managed to maintain its wholesale revenue on par with a year ago. OnePlus has become the vendor’s new growth driver (+43% YoY by volume). But its momentum cannot fully compensate the decline of OPPO brand (–12% YoY). Looking forward, OPPO and OnePlus are facing strong headwinds, including the mounting pressure from Huawei in the home market and the ongoing litigation with Nokia in overseas markets.
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