Find X in Paris, marking its official foray into Europe. As of January, it had entered nine European markets, including Italy, Spain, and the United Kingdom.
Wu Qiang, who is in charge of Oppo’s overseas business, said the company is not adopting an aggressi
ve strategy in overseas markets. Instead, it strictly follows CEO Chen Mingyong’s principle of “eating rice bite by bite”.
“We will only enter the next market after doing a good job in existing markets,” Wu said.
Oppo’s intensified interest in foreign countries came after the Chinese sma
rtphone market hit a saturation point, with shipments declining for several quarters.
From September to December of 2018, smartphone shipments in China plunged almost 10 pe
rcent year-on-year, according to data from market research company International Data Corp or IDC.
Though Oppo outgrew the industry average to achieve an annual expansion rate of 1.5 pe
rcent in that time-frame, there is still a pressing need to look for new opportunities, Wu said.