New rumors hinted that Oppo is planning to exit the European market. It looks like the brand and OnePlus will leave the region but the executive has denied these rumors. Here are all the details.

For those unaware, recent rumors have hinted that Oppo and OnePlus are leaving the European and UK markets. But senior official James Paterson said otherwise, at least for OnePlus. “OnePlus will not leave Europe and the UK and will maintain stable operations in local markets. OnePlus will continue to invest in Europe and offer more innovative products and solutions for its users.”

Unfortunately, it is not yet clear whether Oppo plans to leave the region. The original report claimed that companies were leaving the region due to the difficult market situation in Europe. These include issues with high selling costs, and the consumer’s purchasing power has dropped due to the economic downturn. In other words, it has become difficult for both brands to operate profitably in these markets. Therefore, Oppo has decided to reduce its operations in Europe to better adapt to the conditions in Europe.

According to a report by Counterpoint Research, total smartphone shipments in Europe will drop by 17 percent in 2022. It was Oppo’s worst year ever in the industry, seeing a massive 39 percent year-over-year sales decline in the fourth quarter of 2022. But at least it has been confirmed that OnePlus plans to continue operating in the region.