This year, the OnePlus One flagship from 2014 is expected to get replaced by a successor smartphone. The purported name of the successor model is OnePlus 2 or OnePlus Two and it is now is expected to get announced June 1.

A new tweet from OnePlus states that it is looking to shake up the tech industry and it will be revealing more information June 1. According to Phone Arena, when the OnePlus One arrived last year with high-end specs and affordable pricing, it shook the tech industry. And the brand is likely to do something similar this year as well.

According to a report from Giz China, OnePlus CEO Pete Lau made an announcement on Wiebo, the popular social networking site of China, that the OnePlus Two will be released in the third quarter of this year and it will come loaded with the Snapdragon 810 chipset. Lau also revealed that the OnePlus Two will cost around 2,499.99 yuan ($402).

Carl Pei, a co-founder of the company, proclaimed in a recent Ask Me Anything Reddit session that the OnePlus Two would be a competitive flagship smartphone that will be able to match up against phones such as the Galaxy S6, HTC One M9 and the next generation iPhone.

Phone Arena states that the OnePlus Two is pegged to house a 5.5-inch Quad HD display and 3 GB or 4 GB of RAM. It is also expected to feature a fingerprint sensor. Droid Pile’s report claims that the Chinese smartphone firm is also working on another smartphone called the OnePlus One Lite. Rumors suggest that it will be a lighter edition of the OnePlus Two handset and it will carry an affordable price.

As of this writing, there is no official confirmation by OnePlus on whether it will be announcing the OnePlus Two or any other product June 1. There is no confirmation by OnePlus on the rumored specs of the OnePlus Two and it has not said anything on the alleged OnePlus One Lite smartphone.