OnePlus has reduced the price of the OnePlus 2 permanently. The smartphone now costs $349.

The handset maker's OnePlus One was extremely popular in the mobile phone industry that led to the development of the OnePlus 2, which was unveiled in July 2015 and released in August.

The OnePlus 2 has top-end features that attract many smartphone customers; however, the company's invite system deterred many customers to buy the device. Luckily, on Dec. 5, 2015, customers were then allowed to buy the OnePlus 2 without any invite.

On Monday, OnePlus has announced a permanent price cut of $40 on the OnePlus 2.

"The invite system helped get the OnePlus 2 off the ground, and now thanks to both timing and scale, our operations have sized up to the Goldilocks principle of just right. So, why not let our fans join us in celebrating the fruits of our labor? The OnePlus 2 now has a price modification of $349, forever. If you've ever needed to give a friend another reason to join Team OnePlus, here you go," says OnePlus.

The company explains that the growing sales and reduction in the price of the components used in handsets has helped OnePlus to reduce the price of the OnePlus 2.

Customers who want to buy a brand new 64 GB OnePlus 2 can purchase it directly from the company's website at $349.

At launch, OnePlus offered the OnePlus 2 with 16 GB internal storage. However, the company discontinued the 16 GB model of the smartphone in the U.S.

The OnePlus 2 sports a 5.5-inch IPS LCD display with a display resolution of 1,080 x 1,920 pixels and 401ppi. The smartphone has a 13-megapixel rear-facing camera and a 5-megapixel selfie camera.

The 64 GB version of the OnePlus 2 comes with a Qualcomm Snapdragon 810 processor clocked at 1.8 GHz and 4 GB of RAM. With the latest price reduction, the OnePlus 2 is currently one of the cheapest Snapdragon 810 handset available in the market.

The OnePlus 2 has a large 3,300 mAh battery for long-lasting usage. The handset supports Wi-Fi, Bluetooth 4.1 and GPS connectivity.

The OnePlus offering measures 5.98 x 2.95 x 0.39 inches, or 151.8 x 74.9 x 9.85 mm, and weighs 6.17 ounces, or 175 grams.

OnePlus is taking several steps to entice customers. In mid-Jan this year, the company announced free delivery for all products purchased over $100.

Customers who have purchased the OnePlus 2 recently would be disappointed to have paid a higher price. However, OnePlus has good news for OnePlus 2 customers who purchased the handset in the last 15 days. These customers will get a refund of $40 and will be notified by email.

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