Single brand retail reforms: OnePlus says to avoid making strategic investments based on short term opportunities

NEW DELHI: Chinese handset maker OnePlus said that it will stick to its long term approach and avoid making any strategic investments based on short term opportunities.

The company’s comments follow the government’s move to relax FDI rule for foreign single brand retailers which is lure brands such as Apple, One Plus, Oppo and Vivo among others in India to open their own stores.

Vikas Agarwal, General Manager, OnePlus India said, “Given that regulations are still evolving and may change further in near future, we will stick to our long term approach and avoid making any strategic investments based on short term opportunities.”