Last week, tech giant Asus said it would stop making smartphones, joining former Android heavyweights HTC and LG in throwing in the towel. Now, according to a bombshell report, another major phone maker is planning a market exit.

Android Headlines reports that OnePlus is being “dismantled”, citing falling phone shipments, office closures, and cancelled products, among other things.

The Chinese brand is owned by BBK Group, a consortium that also owns Oppo and Vivo. In recent years, Oppo and OnePlus have grown closer together, with OnePlus all but adopting Oppo’s ColorOS software skin, even if on OnePlus phones it is still called OxygenOS.

Last year’s OnePlus 15 was excellent, but it lacked the Hasselblad camera branding and partnership of preceding phones, a partnership still held by Oppo.

“The evidence is damning,” Android Headlines said. “Shipments in freefall. A premium stronghold that collapsed almost overnight. Headquarters shuttered without announcement. Partnerships ended. Western teams gutted to skeleton crews. Product cancellations—the Open 2 foldable and 15s compact flagship have both been scrapped; neither will launch as planned. And every major decision now flows from China—regional offices don’t strategize anymore, they take orders.”

But OnePlus has pushed back on the claims.

“Existing business operations for OnePlus Europe continue to proceed as normal,” a OnePlus spokesperson told Express.co.uk. “All users’ after-sales support, software updates, and rights commitments are fully guaranteed.”

Other regions have also responded to the report with OnePlus North America saying it “continues to operate, with full guarantee of users’ after-sales support, software updates, and rights commitments.”

OnePlus India denied there is trouble afoot.

“Recent unverified reports claiming OnePlus is shutting down are false. OnePlus India’s business operations continue as normal. We urge all stakeholders to verify information from official sources before sharing unsubstantiated claims.”

This latest report cites falling OnePlus sales numbers compared to Oppo, with sales dropping more than 20 percent in 2024. India, a key market for OnePlus historically, was also said to be denting outlook, with OnePlus holding just a 3.9 percent market share in 2024, compared to Oppo’s 12 percent.

With sales stalling in China, North America and Western Europe, Android Headlines says “OnePlus has almost nowhere left to sell phones”, going on to say its US HQ in Dallas was closed in 2024.

For what it’s worth, OnePlus’s UK operation seems unaffected. The firm has UK staff and employs a PR agency that handles device reviews and press release distribution to media. I recently received the OnePlus 15 for review, and have been offered other products as recently as November.

It’s always a shame when a big smartphone brand finds it can’t continue in the very competitive industry. But OnePlus’s ultimate fate seems to be more complicated than the recent demise of Asus, which had pulled out of several markets before pulling the plug.

OnePlus still sells phones in many international markets – but it is one to watch, if only because these rumours have swirled before, and Oppo and OnePlus have been converging over the past few years.