Our focus will continue to be on the premium segment and we want to focus more on the customer experience than worrying about price, said Vikas Agarwal, India Head, One Plus.

"Historically we have never reduced the price of any smartphone and that is something we will continue even in future. About the lower price segment, we do not want to get into that segment at all," he added.

"India is our most important market. It is already one third of our global sales. We are really excited that we are going to establish India as our second headquarters," said Agarwal.

He further added, "With localisation, we would be able to execute a lot of things faster and better because we will be able to localise lot of our campaigns as well. Second is Make in India. We have been already manufacturing all our smartphones in India, going forward we would also be manufacturing the PCB or other components in India. The local manufacturing of the components will start from next quarter. It is already happening at the trial level, we just need to go into production."