2014 marked the entry of a smartphone brand that within a very short span claimed the title of “Flagship Killer”. With its clean designs, smooth software, premium features, “Never Settle” philosophy, and so much more at affordable prices, OnePlus built a strong fan base among Android users. Suddenly, people were no longer settling for an Android because of its comparatively lower prices, they were doing so because the features could easily surpass any luxury phone.
Over the next decade, this Shenzhen-based brand established an unmatched presence across North America, Europe, and Asia, pushing down the sales of many legacy brands.
But recently, headlines such as “OnePlus to Shut Shop in US, Europe, and India Soon, Report Says”, have started painting a different picture.
According to a Bloomberg report, OPPO, the parent company of OnePlus, is restructuring its smartphone business, and as part of that strategy, OnePlus is scaling back its operations across Europe and the US markets. However, an official confirmation on the same from either brand is yet to arrive.
If you are a OnePlus owner or are planning to purchase one in the near future, the market realities look very different today.
As per the indicative data, the lower buyback values suggest that OnePlus phones continue to depreciate at varied levels over time. Now, while buyback values of these phones alone don’t explain why OnePlus might be scaling back in US and European markets, they do highlight that the demand for these phones has reduced in the secondary-markets.
What happens to existing owners, and why resale values could take a further hit
Many existing OnePlus owners are now wondering what this could mean for long-term ownership of their devices. Although no changes in customer or after-sales support have been announced, questions around software updates, warranty services, and repair centres have naturally started surfacing. Consequently, many are speculating if it’s a wise decision to sell their phones before OnePlus makes an official statement, which can further impact the resale value.
Here are 3 factors that can influence the resale value of OnePlus phones in the coming months:
Software Updates – OnePlus’ software update policy will undoubtedly be one of the biggest factors to influence the resale prices. If the company continues to deliver AndroidOS and security updates, buyers will be more confident in purchasing used OnePlus phones. However, any sense of uncertainty can negatively impact their resale value.
Warranty Support – Usually companies continue to ensure they meet warranty obligations for the devices sold already. But in this case the question that arises is will the company offer warranty services directly or through a third-party, and the way it will affect the sentiments of the resale market.
Repairs and Spare Parts – If OnePlus is planning to reduce its presence, the availability of repair services and spare parts can get severely impacted. This means a higher repair cost and increased difficulty in sourcing spare parts, which can make them less desirable in the second-hand markets.
So, should you sell your existing OnePlus device?
For now, there is no perfect answer to this question as these speculations are based on reports. Until OnePlus comes forward to make an official announcement, there is no reason for existing owners to rush to sell their devices. Also, a lot depends on how the company addresses its long-term commitments towards its customers including warranties, software updates, and after-sales services. These factors can also influence the offers made by the buyback platforms and the general sentiment of the second-hand market. That said, the key lies in waiting for an official statement, closely monitoring how buyback offers change, and only then deciding whether to sell or hold on to your phone.