OPPO Find X8 Series Globally Launched, Stirring Up High-End Market and Setting New Benchmark for Chinese Companies' Overseas Expansion

OPPO Find X8 Series Globally Launched, Stirring Up High-End Market and Setting New Benchmark for Chinese Companies' Overseas ExpansionOn October 24th, OPPO officially launched its new generation of imaging flagship, the OPPO Find X8 series, with a starting price of 4199 yuan in the domestic market. As a crucial step in its global layout, the Find X8 series will also be launched in Asia Pacific, Europe, Latin America and other markets

OPPO Find X8 Series Globally Launched, Stirring Up High-End Market and Setting New Benchmark for Chinese Companies' Overseas Expansion

On October 24th, OPPO officially launched its new generation of imaging flagship, the OPPO Find X8 series, with a starting price of 4199 yuan in the domestic market. As a crucial step in its global layout, the Find X8 series will also be launched in Asia Pacific, Europe, Latin America and other markets. This signifies OPPO's engagement in a more intense competition with Apple and Samsung in the high-end market and further propels the globalization process of Chinese companies.

A New Era of Globalization, OPPO Continues to Grow Stronger

Currently, globalization for Chinese companies is transitioning from a pursuit of scale to a pursuit of high value. OPPO is not only expanding its global business map but also strengthening its position in the global mid-to-high-end smartphone market. Starting from Thailand in 2009, OPPO's "going global" journey has spanned 15 years. Its services currently cover over 70 countries and regions across five continents with over 300,000 retail stores. It is also the only Chinese smartphone manufacturer that can compete with Samsung in overseas markets. Industry analysts point out that OPPO's globalization strategy has set a new benchmark for Chinese companies' global expansion. By deeply implementing the philosophy of "the best globalization is localization", OPPO has built a unique "moat" for its overseas expansion by providing high-quality, high-value-added products and services to local consumers.

A "Gradual Approach" for Steady Expansion in Overseas Markets

How can Chinese smartphones establish a foothold in the global market? From entering Southeast Asia in 2009 to stepping into Europe in 2018 and then landing in Latin America in 2020, OPPO has adopted a pragmatic "gradual approach" to expand its overseas market over the past decade. Currently, about 60% of OPPO's shipments come from overseas, making it the key growth engine for OPPO's future.

Cao Yangfeng, Dean of the Hong Kong Institute of Entrepreneurship and Innovation, analyzed that OPPO's internationalization began in Southeast Asia, using the Asia-Pacific market as a springboard for globalization. The experience gained in China was then applied to the high-yield Asia-Pacific market. After achieving success in Southeast Asia, OPPO steadily opened up high-potential markets in Europe, establishing brand dominance. Based on this foundation, OPPO has expanded its reach into high-potential markets in Latin America, transferring its globalization experience to these markets. OPPO's globalization strategy has progressed from easy to difficult, from point to surface, reducing trial-and-error costs and increasing success rates.

Breakthrough in the High-End Market, Find X8 Series Leads the Global Market

In terms of product strategy, OPPO has chosen to provide high-quality, high-value-added products and services to global consumers instead of engaging in price wars. This has yielded significant results in the high-end market. According to Canalys data, in the second quarter of 2024, OPPO ranked among the top three in the over $500 price segment in 14 countries, including India, Thailand, Vietnam, New Zealand, Belgium, and Portugal.

In the second quarter of 2024, Canalys data shows that OPPO's shipments ranked second in the mainland China market; first in Vietnam, Thailand, and Cambodia; second in Indonesia; fourth in Mexico; and fifth in Western Europe. Its rankings in Portugal, Finland, and Spain were second, third, and fourth, respectively.

Liu Zuohu, OPPO's Chief Product Officer, stated in an interview that OPPO has entered over 70 countries and regions globally. We see new potential in every market, whether it's Southeast Asia, Europe, or emerging markets like Latin America and Africa. Therefore, we will expand the sales of the Find X8 series to more countries and regions across Asia Pacific, Europe, and Latin America.

Global Testing of the Find X8 Series, High-End Flagships Drive Growth

Liu Zuohu introduced that the background plan behind launching the OPPO Find X8 overseas is two-fold. Firstly, the industry is recovering, and the global economy is gradually warming up, bringing about a new phase of growth in the smartphone industry. Secondly, the high-end market is calling for new products. Consumers are demanding more high-end smartphones, but the options remain limited. The Find X series enjoys widespread popularity and its popularity continues to increase. In 2024H1, its shipments grew 98% compared to the previous generation.

Global smartphone sales have continued to rebound this year. IDC data shows that global smartphone shipments reached 316.1 million units in the third quarter of 2024, representing a 4.0% year-on-year increase, marking five consecutive quarters of growth. This laid the foundation for a strong start to the second half of the year. Notably, the demand for high-end smartphones priced over $600 is growing rapidly. According to Counterpoint Research, from 2016 to 2023, the compound annual growth rate (CAGR) for the over $600 market reached 6%. The share of this segment in total smartphone sales has tripled to 24%.

"The global market is a testing ground for flagship phones. Only if phones priced in the high segment are well-received globally do they truly have value. In the future, we will focus on bringing high-end flagship phones like the OPPO Find X8 to the global market. As a model for globalization, OPPO will not engage in price wars but instead provide high-quality, high-value-added products and services worldwide," Liu Zuohu emphasized.

It is reported that the Find X8 series is the first to feature the combination of the latest generation of OPPO Tide Engine and MediaTek Dimensity 9400 flagship chip for the most powerful performance and energy efficiency technology. Coupled with the Find X8 series' new generation of Glacier battery, the phone achieves a balance of three key experiences: a thin and light feel, stable frame rates, and long-lasting battery life. The phone will also feature dual periscope telephoto cameras and introduce a new system-level AI interaction "One-Click Ask Screen" function. Through a button on the side of the phone, users can quickly launch Xiaobu Assistant, enabling one-click customizable travel plans, one-click inquiries about personal information, one-click writing of documents, and one-click document conversion.

Currently, the high-end smartphone market is dominated by Apple, Samsung, and other brands. Technological iterations have become increasingly incremental. OPPO's Find X8 series, with its innovative breakthroughs in imaging and AI, has qualified it to engage in a direct confrontation with Apple and Samsung once again. With the global launch of the OPPO Find X8 series on October 24th and its simultaneous sale in Asia Pacific, Europe, and Latin America, OPPO is poised to further solidify its position in the high-end market overseas.

"Global Localization" Strategy, Building Core Competitiveness for Overseas Expansion

The best globalization is localization. Over a decade of sailing through the waves, OPPO's presence has spanned five continents. Cao Yangfeng believes that adhering to the "global localization" strategy is one of the key factors behind OPPO's global success. This strategy effectively integrates the advantages of "globalization" and "localization". It leverages the different resource endowments of various countries to build a value creation network that covers the globe, enhancing value integration capabilities. Simultaneously, it combines the unique market characteristics of each country to drive localized operations, implementing a "country-specific" strategy, improving operational efficiency and agility.

In terms of production and manufacturing, OPPO has invested in factories in seven countries India, Indonesia, Turkey, Pakistan, Bangladesh, Brazil, and Egypt further enhancing its localized production capabilities. In Indonesia, for example, over 95% of the management personnel in the OPPO Indonesian factory are locals. This not only creates numerous job opportunities locally but also cultivates local talent. Beyond building factories locally, OPPO has also led supply chain companies to expand their overseas operations. Around 10 supply chain companies have collaborated with OPPO to build factories in Indonesia, producing key components such as batteries and chargers.

In terms of sales and service, OPPO has over 300,000 retail stores globally, around 65,000 sales and service personnel, over 3,300 offline after-sales service stores, and over 12,000 customer service representatives providing reliable and diverse localized services. This year, OPPO plans to invest over $60 million to upgrade retail stores to version 3.0Pro, with an estimated coverage of over 4,300 upgraded stores overseas by 2024.

Furthermore, OPPO has adopted a "manufacturer-integration" entry model in some overseas markets. "Manufacturer" refers to OPPO, and "integrator" refers to OPPO's distributors. By establishing joint ventures, the primary distributors and OPPO factories hold shares in each other, sharing risks and profits. Through this mutually beneficial model, OPPO quickly established strong distribution channels overseas.

Deeply Cultivating Markets, Continuously Investing, Embracing Long-Termism

Zhang Zhouchuan, Vice President of Overseas Marketing at OPPO, stated that OPPO believes in long-termism and strives for health and longevity. We started expanding overseas more than a decade ago,