Even reading through all the comments above yours I'm still in the dark. Everyone is talking about how they sabotaged their own business, and Carl Pei leaving, but none of that explains why specifically they aren't launching new products in Europe and the US (but still will in other parts of the world?) Something isn't quite adding up here.

Their nitch in the American market was selling high end devices for mid level prices, now that that is no longer the case, most people would rather get a Samsung for performance, a Pixel for it’s cameras or an iPhone for all of the above.

Yes, I got that from the comments. But it doesn't explain how they are continuing to sell in other markets. That's the confusing part.

Because their hearts are too heavy and emotional, and their community is too beloved, duh! I really wished companies would just TLDR so you didn't have to read this nonsense every singe time.

Because Carl Pei left and the parent company has 3 other phone brands.

As someone vaguely in the industry: It's because of the huge rise in RAM prices. One of OnePlus' points was high specs at low price. They don't have the margins to eat current RAM prices.

Just a guess, but it probably has to do with their bullshit DMA meant to hobble western tech so they can attempt to compete. I don’t think it’s long before Apple pulls out as well, that DMA has cost them a LOT of money..