Close on the heels of OnePlus teasing the unveiling of the OnePlus X smartphone, the Internet is abuzz with rumors that the impending handset will sport a $220 price tag.

On Wednesday, Oct. 14, OnePlus took to Twitter to tease that something "powerfully beautiful" would be shown off at an event in London on Oct. 29.

The tweet was accompanied by an image which showed the letter "X" suggesting that the company would finally announce the oft-rumored OnePlus X smartphone.

Now a day later, the smartphone's pricing has leaked online. Notable Chinese leakster Leaksfly took to Weibo - which is the Chinese equivalent of Twitter - to share that the OnePlus X would cost consumers in the region RMB 1399, which is around $220.

The OnePlus X will be the third smartphone from the company after the 5-inch OnePlus One and the 5.5-inch OnePlus 2 handsets.

The OnePlus X is believed to sport a 5-inch display with a resolution of 1920 x 1080 pixels. Rumors hint at a metal frame for the handset which will allegedly measure 140mm x 69mm x 6.9mm.

Under the hood, the OnePlus X supposedly houses not a new processor but the quad-core Qualcomm Snapdragon 801. Alternately, the device may also pack in the MediaTek 6795 SoC, along which has an octa-core CPU. The handset will likely have 2GB or 3GB of RAM and 16GB of on-board memory with a microSD card support.

The OnePlus X is also said to have an 8MP secondary camera, which will be welcomed by selfie lovers. It will also have a 13MP rear-facing camera. The smartphone from OnePlus is also rumored to have a 2450 mAh battery.

Judging by the leaked specifications, the OnePlus X's pricing will not be too steep and Leaksfly's claims seem to have some grain of truth in them. However, whether OnePlus will keep the same pricing strategy for other countries as well remains to be seen.

Earlier in 2015, Carl Pei - the company's co-founder, had revealed that OnePlus would be focusing more on the design rather than power with the OnePlus X. Come Oct. 29, we will know if OnePlus has lived up to its promise.

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