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OnePlus Two News: Q3 Release Date, Snapdragon 810 and Price Increase (VIDEO)

The OnePlus Two has been set for release in the third quarter of this year, featuring a Snapdragon 810 processor, and a higher price point that expected.

Chinese phone manufacturer OnePlus has announced it is gearing up for a third quarter arrival of its next gen handset, the OnePlus Two, CEO Pete Lau told Chinese social networking site, Weibo.

The company's high end device, the successor of its OnePlus smartphone, will feature a Qualcomm Snapdragon 810 chipset. According to Giz China, Lau made the decision to use the current chip to ensure a more affordable price for the OnePlus Two.

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The phone is expected to roll out at 2,499.99 Yuan ($402), a higher price point than expected, given the $229/$299 OnePlus One launch price in April 2014.

The OnePlus Two, or OnePlus 2, will house a 5.5 to 6-inch display with a Quad HD 2560 x 1440 pixel resolution surrounded by 2.5D glass.

It will feature 4 GB of RAM, an Adreno 430 GPU, nano SIM card, dual SIM, and microSD card slots, and is rumored to have a fingerprint scanner. It may also have Touch-on-Lens technology, a 16 MP rear camera with Sony's 6-Lens Exmor sensor, and a 5 MP front camera geared for selfie taking.

On an Ask Me Anything Reddit session last month, Lau told fans the OnePlus Two will be released with specs powerful enough to take on the HTC One M9, Samsung Galaxy S6, and even the iPhone7.

Droid Pile has published OnePlus is currently developing another handset, the OnePlus One Lite, a lower-spec more affordable iteration of the flagship, which is expected to launched in the market by the end of 2015. However, no further information on the rumored smartphone has been released.

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