Oppo India MD Yi Wang quits amid mounting losses | Tech News

Oppo India MD Yi Wang quits amid mounting losses

Oppo loses its key executive in India as the company faces increasing losses in the country.

By: INDO ASIAN NEWS SERVICE
| Updated on: Aug 20 2022, 11:59 IST
Oppo said it will invest 10 billion yuan (around $1.43 billion) in Research and Development (R&D) across its global markets in 2019
Oppo said it will invest 10 billion yuan (around $1.43 billion) in Research and Development (R&D) across its global markets in 2019 (Oppo)

Chinese smartphone maker Oppo India's Managing Director Yi Wang has resigned from the company and the handset manufacturer has accepted his resignation, said a regulatory filing with the Bombay Stock Exchange (BSE).

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

You may be interested in

MobilesTablets Laptops
22% OFF
OPPO Reno10 Pro plus 5G
  • Silvery Grey
  • 12GB RAM + 256GB ROM
  • 256 GB Storage
26% OFF
OPPO Reno8 Pro 5G
  • Glazed Green
  • 12 GB RAM
  • 256 GB Storage
18% OFF
OPPO Reno11 Pro
  • Obsidian Black
  • 12 GB RAM
  • 256 GB Storage
7% OFF
OPPO Reno11
  • Wave Green
  • 8 GB RAM
  • 128 GB Storage

"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.

Also read
Looking for a smartphone? To check mobile finder click here.

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.

"5G is a trend Oppo must embrace. In addition to striving to become the first manufacturer to launch 5G smartphones, Oppo's exploration of application opportunities in the 5G+ era will determine the value of 5G," Chen stressed.  

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 30 Nov, 10:34 IST
Tags:
NEXT ARTICLE BEGINS