China-based Oppo has been granted approval by the Indian government to set up its single-brand retail stores in the country. The move is expected to enable the company expand its sales in the offline market as well, along with raising hope for brands such as Apple, which has been long pursuing the idea of setting up its own stores in India. Also Read - Oppo Reno 6Z powered by Dimensity 800U launched: Price, specificationsAlso Read - Oppo A16 launched with a big 5000mAh battery, price set around Rs 10,000
The Foreign Investment Promotion Board approved Oppo Mobiles India Pvt Ltd s request on Tuesday, according to a notice on the department s website. The single-brand retail trading for Oppo has been approved for an unspecified amount. As the government allows foreign firms to sell their products through the single-brand retail route in India, the brands need to source 30 percent of the products locally. Although the guideline has been partially relaxed by exempting foreign retailers for three years from the mandatory local sourcing, Apple’s request for a waiver of the norm was turned down by the government. ALSO READ: Here s what Apple CEO Tim Cook said about India performance, demonetization and future plans Also Read - Oppo Reno 6 Pro to go on sale from July 20: All you need to know about it
As for Oppo, it is unclear if the company will be able to abide by the local sourcing norm placed by the Indian government. The company already has an assembling unit in Noida, Uttar Pradesh. However, it doesn’t locally source as yet. According to Business Standard, Oppo plans to increase capacity of the assembly unit and also set up a mobile manufacturing unit. It further aims to sell made in India phones to other markets. RELATED: Oppo F3 leads in mid-range segment in India: Counterpoint
Oppo, popular for its selfie-centric smartphones, is said to enjoy 8 percent share in the Indian smartphone market, and has roped in Bollywood celebrities including Ranveer Singh and Deepika Padukone to gain a foothold among the consumers. The company recently launched the Oppo F3 Diwali Limited Edition in the country, priced at Rs 18,990. In addition to Oppo, the government has also given nod to lingerie retailer Zivame, gifting brand Chumbak, and two other firms.