OnePlus to narrowly miss India smartphone sales target

Chinese smartphone maker OnePlus will miss its target of selling 1 million handsets in India in 2015 - its first year in the country - but not by much, a company executive said.

OnePlus's high-spec mid-range phones have proven to be a hit, but supply chain issues have limited the company's ability to take a bigger share of one of the world's fastest growing smartphone markets.

Even so, India accounts for more than a third of the company's annual sales.

"In the initial two months, we weren't able to get stock, due to which we lost almost 6-8 weeks of sales," Vikas Agarwal, general manager of the company's India operations, told Reuters.

The company, which sells premium phones at less than half the price of top-end handsets by Apple Inc and Samsung Electronics Co Ltd, launched OnePlus 2 in July and received 5 million registrations globally.