OnePlus, the cult Chinese smartphone maker, has broken the billion-dollar sales barrier for the first time and made a profit, a rare feat in the ultra-competitive mobile market.
The company’s chief executive, Pete Lau, told The Daily Telegraph that its revenues last year had doubled to more than $1.4bn (£1bn) and that this had come with “healthy profits”. It comes as OnePlus plans to challenge bigger players by tying up with mobile networks in the US and Europe.
The smartphone market has been flooded by competition from Chinese upstarts in recent years, making profits rare and sending established brands such as HTC and Motorola into losses.T