 "BBK makes Oppo, OnePlus and Realme separate entities in India: Report")
BBK Electronics Corp, China's largest smartphone manufacturer, has restructured its India operations and made its three brands, Oppo, OnePlus and Realme, independent entities, The Economic Times (ET) reported on Tuesday.
The development comes when Chinese companies in India face increased scrutiny, and Oppo Mobile is being investigated for alleged custom duty evasion of Rs 4,388 crore. The report added that the move is being seen as a way to "de-risk" the business from future government action.
The sales and distribution of OnePlus and Realme have been transferred into their legal entities OnePlus Technology India and Realme Mobile Telecommunications (India), respectively. Earlier, their distribution was being handled by Oppo Mobiles India. Now, it will continue sales of Oppo phones only.
According to ET, in an earlier regulatory filing to the Registrar of Companies, Oppo said that around Rs 2,082 crore is now blocked in its frozen bank accounts and that its auditors have warned it casts uncertainty on the company's future.
OnePlus and Realme are already looking for Indian contract manufacturers. Oppo Mobile will continue to manufacture all three smartphone brands for now.
The report added that OnePlus Technology India has started signing billing, sales and distribution agreements with large retail chains and their distributors in India and Realme Mobile Telecommunications will start doing it soon.
Notably, BBK also owns Vivo and iQoo brands, and they operate under a separate entity, Vivo Mobile India.