Oppo, the second biggest smartphone brand in China will be spending 10 billion yuan which is roughly $1.49 billion on research and development this year.
OPPO’s CEO Bryan Chen while introducing the new Oppo Reno smartphones in China this week revealed that there are more than 250 million Oppo users around the world who are young, attracted towards the new designs and latest technology offered by the company.
He further said that the company will channel its energy in three different directions; expanding mobile phone business, exerting its presence in IoT, and attaching importance to technological innovation and brand building. It also aspires to lead the market for flagship smartphones and thus to rise to the top, it will be investing 10 billion yuan into research and development.
The company’s R&D team will also be expanded to more than 10,000 persons and will work towards developing more IoT products in sports, health, home, entertainment and in other vital aspects.
The smartphone sales in China are slowing down and thus to make a name in the global market, Chinese companies have to reach out to the far away markets like Europe to gain a bigger piece of the pie.
It was an investment in R&D that helped Huawei to be able to stand toe to toe with the likes of Samsung and Apple in order to challenge them for the top spot in the global smartphone market. With the launch of Huawei P30 Pro, the company has shown the power of their R&D where once the follower has become a leader in smartphone trend.