Phone maker OnePlus reportedly plans to wind down US and Europe operations

Amid rising consumer electronics prices and slow demand for new purchases, Android phone maker OnePlus plans to wind down its U.S. and Europe operations this week, according to a report from Bloomberg.

The report cited a source saying that OnePlus’s shuttering of its U.S. and European shops is part of a corporate rejig at parent company Oppo. It also noted that OnePlus will wind down its operations in India, one of its biggest markets outside China.