OnePlus' next phone will launch in Europe and India first

OnePlus has a new phone coming. After ramping up its teases Monday with posts about "New Beginnings" on Tuesday Pete Lau, CEO of the Chinese smartphone maker, posted an update on the company's forum confirming a new "affordable" smartphone from the company is coming soon. 

"Today, I'm very excited to announce that we are bringing the premium, flagship experience that you've come to expect from OnePlus to a new, more affordable smartphone product line," Lau writes. "I know this is something many of you have been wanting for a long time."

"We know that there are many people who want a really solid smartphone that meets their everyday needs, and for a more accessible price."

Lau adds that the new phone, which has been rumored to be called the OnePlus Z or OnePlus 8 Lite, will launch first in Europe and India. North America, meanwhile, will need to wait though he says the company is "looking to bring more affordable smartphones to North America in the near future as well."

No pricing, specs or release date were given about the new phone, which the company is continuing to tease through a private Instagram account called OnePlusLiteZThing. 

Rumors, and a leaked survey spotted by XDA Developers, suggest that the phone will have a Qualcomm Snapdragon 765G processor, 6.55-inch AMOLED display with a 90Hz refresh rate and in-screen optical fingerprint sensor, support for 5G , either 6GB or 12GB of RAM and three rear cameras anchored by a 64-megapixel main shooter. 

Pricing is rumored to potentially be $299, the same starting price as the company's first phone, the OnePlus One.