OnePlus, the world’s largest smartphone manufacturer, is set to launch a $30 billion battery replacement program, making it the second-largest player in the market for batteries, according to a report from Bloomberg.
The program, called the OnePlus One Battery Replacement Program, aims to fill the gap left by the discontinued Galaxy Note 7 by replacing the batteries in a range of smartphone models including the OnePlus 3 and OnePlus 5.
The move comes at a time when battery makers are also aggressively marketing their own battery-friendly smartphones, and are also launching a range.
The OnePlus program aims to bring the price of batteries down to $50 and replace the batteries that are already on sale in the U.S. for less than half the cost of new ones.
The battery replacement plan comes at an important time, as battery costs have begun to climb, thanks to a slew of new smart phones, including the new iPhone 8, the Apple Watch Series 2, and a slew more on the horizon.
The price of the new iPhones and watches has also soared, and many analysts expect the U to be a net importer of batteries for the foreseeable future.
The U.K.’s National Grid, for example, reported a 9% decline in batteries sales in April, with a further 10% decline expected in the next quarter, and the battery industry expects an increase of at least 5% this year.
In the U., however, the U-shaped battery cycle is a more predictable trend.
The industry is expecting a steady rise in battery sales as the cost and demand for batteries are further reduced, and as consumers become more aware of how much they can save by using less energy, Bloomberg reports.
The OnePlus battery replacement plans are part of a $60 billion push by the company to boost battery production and sales.
Last year, the company made a similar $30 million push to improve the battery’s efficiency and power output.
The plan will see the company offer the batteries to customers for $35, which is $15 more than the current plan price.
The OnePlus battery replacement programs are a good start for the company, which has been struggling to compete in the smartphone market, but also faces significant competition from the likes of Samsung and Huawei.