Amid rising consumer electronics prices and sluggish demand for new purchases, Android phone maker OnePlus plans to close its operations in the United States and Europe this week, according to a Bloomberg report.

The report cited a source as saying that OnePlus closing its stores in the US and Europe is part of a corporate realignment at parent company Oppo. He also noted that OnePlus will close its operations in India, one of its largest markets outside of China.

OnePlus was founded by Pete Lau and Carl Pei in 2013 to make affordable Android phones for tech enthusiasts. Over time, the company expanded the range of offerings and that created global demand for its products. Pei left the company in 2020 to start Nothing. As the price of the company’s flagship phones increased, OnePlus also ventured into more affordable phones with its Nord series.

Analytics firms such as IDC and Counterpoint have predicted that smartphone shipments will decline by more than 13% in 2026 due to a limited supply of memory chips that has been described as RAMgeddon.

Oppo faced a double-digit year-over-year shipment decline during the second quarter of 2026, according to a report by Counterpoint. He noted that the company was facing “weakness in most of its key markets” due to weak demand.

The company plans to continue operating OnePlus in China and sell Realme phones abroad in areas such as the Nordic region, where it has proven successful, according to the Bloomberg report.