The OnePlus 2 is going to offer improved specifications compared with its predecessor, packing a 5.5 inch 1080p display, along with an octa-core Snapdragon 810 chipset and 3GB of RAM.
It will also be designed to be a little more stylish, with an exterior finished using premium materials to help it compete with rivals like the Samsung Galaxy S6.
The OnePlus 2 could cost as little as £200 when it goes on sale in the UK, although this is all dependant on how the manufacturer decides to price its device for the international market.
Low cost was a defining feature of the OnePlus One and is set to be a major advantage of investing in its follow-up. And while consumers will require an invitation to purchase the OnePlus 2 as well, many more of these will be made available, to help extend its impact and build upon the reputation of a company which is quickly carving out a niche for itself in this already crowded part of the market.