The Business Year

Search
Close this search box.
Eduardo Morones CEO, OPPO

MEXICO - Telecoms & IT

Eduardo Morones

CEO, OPPO

Bio

Eduardo Morones has over 10 years of experience as an expert in emerging market companies, specializing in consumer technology and achieving significant increases in sales, brand awareness, profits, and brand positioning. Throughout his career, he has served as vice president, general manager, and CEO of leading technology companies. He joined OPPO in June 2020.

"We are still building the brand. Ultimately, we aim to be the number one in the local market."
OPPO has strategically positioned itself strongly in the Mexican market by focusing on extensive distribution and prioritizing brand building with the goal of becoming the number one brand in the market.
What strategy did OPPO use to position itself strongly in the Mexican market as a new brand?

The results have been amazing, as we have seen a 20% increase year over year. OPPO aims to rank among the top three in Mexico. We are doing a great job, and the performance has been rewarding. Mexico’s market size fell from 28 million to 26 million units, the second year in a row that it has declined. So having 20% YoY growth in a shrinking market has been excellent. We offered something unique versus the competition by focusing from the outset on distribution. So what is distribution? Our key strategy was to achieve 4,000 points of sale in Mexico for full coverage. We divided the country into 27 regions, and we have over 3,500 people in our sales force. It is bigger than any other in Mexico, perhaps more than double any competitor. Two years ago, we turned to building the brand and achieved 90% brand awareness in 2022. The number of people who know of OPPO more than tripled in only a year and a half. We are also excited to witness rapid growth in consumer preference for OPPO.

Why is OPPO targeting a medium range price point instead of a high tier?

It is a strategy that best serves Mexico. We do not sell phones below MXN4,000 to ensure we can maintain the quality of our phones. As well, we also count on the renewal business. Because if they have a good experience with OPPO, they are going to renew with us. We are in the third generation in Mexico, and we focus heavily on the mid- to high tier. Instead of building the brand from the top and going down, we did it from the middle going up. That is why we claim that we are doing something different, because everyone wants to compete in the high range. In the high tier, a company has to spend large sums of money to compete against Apple and so on. The moment that they disengage and stop investing heavily, their sales decline dramatically.

What upcoming product launches does OPPO have in Mexico?

We are currently focused heavily on branding, launching the second generation of the Flip entry. We were cautious in the first and second generation, though sales of the first generation more than doubled compared to 2022, and we were sold out two months after the launch. Subsequently, we launched the second generation in December 2023. We are a strong company and more than a 50% market share in the price range of MXN8,000-10,000.

What were the biggest challenges that OPPO faced in entering the Mexican market?

When we launched, the greatest challenge was COVID-19. We needed to do forecasts, and we did not know if we were going to close in Mexico. OPPO has been in Mexico for three years or so, though in effect the first three or four months saw no business at all. We had to convince customers in the middle of a pandemic with a limited budget why they should take a chance on another brand in a category that perhaps already had 100 products from 10 different brands. Yet, little by little we gained more traction. Meanwhile, within the company we take training seriously, offering incentives. The quality of our product speaks for itself, and we have the lowest quality issues in the industry. OPPO sales reps have the advantage of that reputation when trying to sell a phone.

What are your priorities for the coming year?

We are still building the brand. Ultimately, we aim to be the number one in the local market. We do not deal in products priced below MXN4,000, which is about 30% of the market. If we take that into consideration, OPPO is already number one in Mexico. Our intention is to be number one nationwide, which goes hand in hand with brand preference.

ADVERTISEMENT

ADVERTISEMENT

You may also be interested in...

MX24_RC_HILTI_eduardo

MEXICO - Real Estate & Construction

Eduardo Silva

Interview

President & CEO, Hilti

MX24_RC_VENIT_luca

MEXICO - Real Estate & Construction

Luca Piccolo

Interview

CEO, Venit

SKY

MEXICO - Real Estate & Construction

Federico Cerdas

Interview

CEO, Global Business & Skyhaus

View All interviews

Countries

Countries

Become a sponsor