The Chinese manufacturer OnePlus will exit the European market due to the rising cost of components and declining demand.

OnePlus, the Chinese smartphone manufacturer, is expected to announce its withdrawal from the European market soon, according to Bloomberg sources.

This decision comes as a result of the difficulties encountered in the market, generated by artificial intelligence companies and the massive increase in component prices, which has led to higher selling prices and, implicitly, to a decrease in demand.

As part of the reorganization of its parent company Oppo, OnePlus will exit not only from Europe but also from other important markets, such as the United States and India.

Founded in 2013 by Pete Lau and Carl Pei, OnePlus distinguished itself by offering smartphones with a good price-performance ratio.

Analysts estimate that global smartphone shipments will decrease by 13% this year, and Oppo has felt these effects most acutely, recording a significant decline in the second quarter.