The OnePlus 2 is a highly anticipated device, with several improvements compared to its predecessor, the OnePlus One. These improvements have led customers and analysts to expect a much higher price for the OnePlus 2 compared to the original launch price of $299 for the 16GB model of the company's first smartphone.

The OnePlus 2 is being estimated to carry a price tag of over $500. However, OnePlus posted on its Google+ account confirmation that the price of the OnePlus 2 will not reach that.

"I can promise that the OnePlus 2 will be priced under $450," said OnePlus CEO Pete Lau.

"Honestly, it's never been about the price. We simply make the best smartphones we can, and we go from there," the company also said in its post.

With previous reports confirming that the OnePlus 2 will have a price that is higher than $322, there is now an expected price range for the smartphone.

The news is a welcome one for fans of the OnePlus One, which drew attention for packing powerful specifications while maintaining a consumer-friendly price. The smartphone's capabilities rivaled that of flagship smartphones of other companies that are double its price, and in addition, OnePlus currently reduced the price of the OnePlus One even further to $250.

As such, much attention is being placed upon the OnePlus 2. The company, however, has been very secretive about the device, with only a few details known about it.

OnePlus co-founder Carl Pei squashed earlier rumors that the OnePlus 2 will be released on June 1, stating that the device will be launched in the third quarter, with no definite date then revealed. OnePlus also stated that it will be shipping the OnePlus 2 with OxygenOS, which will be based on Android 5.1 Lollipop.

As for the insides of the OnePlus 2, it has been confirmed that the smartphone will be powered by a version of Qualcomm's Snapdragon 810 processor which has been fixed for its overheating issues. The smartphone will also be the first flagship smartphone of any manufacturer to include a USB Type-C port, and will also be including a fingerprint scanner that is supposedly easier to use than the Touch ID of Apple.

A "spy sketch" of the device has been uploaded, but it does not reveal much about the OnePlus 2. However, the tipster that uploaded the drawing did claim that the smartphone will have a 5.5-inch to 5.-7-inch display, which would make it as big or slightly larger than the 5.5-inch OnePlus One.

The OnePlus 2 will be launched by the company through a virtual reality event on July 27, which will be the first of its kind.

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