Govt allows Chinese smartphone maker Oppo to open stores
The government has approved the foreign direct investment (FDI) applications of Chinese smartphone manufacturer Oppo and lingerie retailer Zivame, gifting brand Chumbak and two other firms. On Tuesday, the Foreign Investment Facilitation Portal (FIFP) approved single-brand retail trading for Oppo for an unspecified amount. The company had been one of the first to apply under the liberalised FDI norms, first updated by the government back in June 2016. While the company had applied soon after, the government had taken a long time to finally give the nod owing to initial reservations about allowing a major Chinese retailer rights to sell in India, a senior government official hinted.
The latest move allows Oppo to sell its products both online and offline, apart from the existing wholesale retail route used by it. Currently, the company sells its products through franchises using the distributor model.
Article source-business standard