Core Viewpoint - OPPO is undergoing organizational adjustments, with realme returning as a sub-brand to consolidate resources and expand in global markets, amidst a challenging market environment affecting mid-tier smartphone brands [2][4][10]. Group 1: Organizational Changes - OPPO's organizational structure has fluctuated between centralization and decentralization over the past few years [1][9]. - Realme, previously independent, is now set to return to OPPO, with the aim of resource consolidation and global market expansion [4][10]. - Li Bingzhong has been appointed as the Senior Vice President of OPPO, overseeing the operations of OnePlus and realme, reporting directly to OPPO's founder [4][10]. Group 2: Market Environment - The smartphone market is experiencing direct impacts from rising supply chain costs, particularly in storage, accelerating the industry's adjustment cycle [3][10]. - Realme's growth in overseas markets has slowed, facing competition from brands like Transsion in the ultra-low-end market [10][11]. - The competitive landscape is shifting from broad market coverage to tighter organizational efficiency, cost control, and higher product success rates [11]. Group 3: Brand Positioning and Strategy - Realme's return to OPPO is framed as a move to enhance collaboration and resource integration, although specific adjustments have not been publicly detailed [10]. - OnePlus has transitioned from a highly independent brand to a role within OPPO's system, focusing on performance and mid-range products, but risks diluting its brand identity [10][11]. - The overlapping product lines among OPPO, realme, and OnePlus in the 2000 to 3000 yuan price range have led to resource friction, necessitating clearer brand differentiation [9][10].