Oppo India top official steps down amid mounting losses

Wang will relinquish office on November 30. His resignation coincides with the increasing losses to the handset maker in the country.

“In a captioned meeting, the Board of Directors of the company discussed and passed the resolutions with respect to the following -- resignation of Yi Wang, Managing Director of the Company, with effect from 30 November,” read Oppo’s regulatory filing with BSE late on Wednesday. Meanwhile, the company on Thursday announced it will invest 10 billion yuan (around $1.43 billion) in Research and Development (R&D) across its global markets in 2019.

Tony Chen, Founder and CEO of Oppo, announced at its technology-focused “2018 Oppo Technology Exhibition” an increase in R&D spending to 10 billion yuan in 2019 which is a 150 per cent year-on-year (YoY) increase and that the company would continue to increase investment on a yearly basis.

Smartphone brand Vivo launched the Y95 in Tamil Nadu as part of its growth strategy in the region. With this launch, Vivo aims to further expand its market presence in the state, where it has a presence across over 4800 retail and 25 plus service centres. TN market contributes almost 7.5% to Vivo India.