The OnePlus 2 flagship smartphone officially has been announced. It is available in two internal storage versions, 16GB and 64GB. Both the handsets carry affordable price tags compared to the currently available flagships from other brands. During the launch event, the company revealed the release date and pricing for several countries.

Pete Lau, the CEO of OnePlus, had promised the OnePlus 2 will carry a price tag lower than $450. The handset is being launched at $329 for the 16GB storage model and $389 for the 64GB storage variant.

In Europe, the 16GB and 64 GB will be available for 339 euros and 399 euros, respectively. In Canada, it will be available for $409 CAD and $479 CAD, respectively. In India, the models will arrive at 22,999 rupees and 24,999 rupees. The pricing for the other countries is listed on the official OnePlus forum post.

The OnePlus 2 will be made available in the United States, the European Union, China, Canada and India on Aug. 11. It will debut in other countries later.

The OnePlus 2 is a dual-SIM flagship that sports a 5.5-inch full HD resolution display and 401 ppi. It runs on the improved version of the Snapdragon 810 chipset.

The 16GB version features 3GB of RAM and the 64GB variant comes with 4GB of RAM. It comes preloaded with Android 5.1 Lollipop OS along with the OxygenOS proprietary software from the Chinese company.

One of the major improvements when compared to its predecessor model is in the camera department. The new handset flaunts a 13 megapixel camera that comes with features like dual-LED flash, laser autofocus and optical image stabilization. The front of the OnePlus 2 is fitted with 5 MP camera.

It is the first smartphone ever to arrive with a reversible USB Type-C connector. Some of the other features include fingerprint sensor, 4G LTE, 3G and a nonremovable 3,300 mAh battery.