OnePlus teased fans via Twitter last week about a big announcement on June 1. The company has now revealed that its smartphone the OnePlus One will now be available for $250 directly from its website, which is a discount of $50 on the handset. This promo is part of the week-long OnePlus Flash Sale.

In late May, OnePlus posted a half-erased image of the One on Twitter along with the text "Time to change." The Twitter post also claimed that it will shake up the tech industry which led to speculations that the company will announce the successor of the OnePlus One.

We’re always looking for ways to shake up the tech industry. And we think it’s time for change. Find out more June 1. pic.twitter.com/odrsSko6dB

— OnePlus (@oneplus) May 26, 2015

Existing OnePlus One customers who were anticipating for a new handset may be disappointed with the news but customers who want to buy a new handset may find the price cut announcement attractive. OnePlus has also confirmed that the company will reveal the successor of OnePlus One dubbed OnePlus Two in Q3 this year.

"We've said before that we're not making money with the One, but we've decided to experiment with our pricing this week. For the first time ever, the OnePlus One in 64GB Sandstone Black and 16GB Silk White will be available at a new price (starting from $249) in a series of flash sales," announced the company in a blog post.

The Flash Sale will start on June 1 and run through June 7. Schedule of the Flash Sale will vary each day so that smartphone enthusiasts around the globe can take advantage of the offer. Even though the company has announced a price reduction of $50 on the One, it will be offering the discount only on limited quantity.

OnePlus also revealed that it will also announce the Flash Sale via social media channels such as Facebook, Twitter and Google+.

The flash sales will be available only from the company's official website.

OnePlus also revealed that some country specific offers may also be available soon in Southeast Asia and India.

If interested in buying the OnePlus One at the discounted price then checkout the Flash Sales on the shown dates:

June 1 - 8 a.m. EST
June 2 - 10 p.m. EST
June 3 - 8 a.m. EST
June 4 - 10 p.m. EST
June 5 - 8 a.m. EST
June 6 - 10 p.m. EST
June 7 - 8 a.m. EST