A OnePlus One handset shows the company's motto: "Never Settle." The successor OnePlus 2 will be released Wednesday. OnePlus

OnePlus’ special promotional event organized not long ago offered the flagship smartphone “One” at a discounted price. Now the Chinese tech titan is reportedly selling the OnePlus One with a discount of $50 -- permanently.

With the price cut, the 16 GB version of the OnePlus One in Silk White hue can be had for $249. The 64 GB variant in Sandstone Black can be purchased for $299. And the 64 GB OnePlus One model can now be purchased alongside Dropbox Pro one-year subscription for an additional $50. The original price of the subscription was reportedly $99, notes Phone Arena.

Considered an underdog, the OnePlus One comes with cutting-edge specifications and killer features. With a mid-range price and high-end configurations, the OnePlus One is finding success among many countries across the globe.

When the tech titan released the device internationally, the OnePlus One price was just $299. However, the company faced initial hiccups because of the invitation system. Now there's no invitation requirement.

Meanwhile, the company is getting ready to release the OnePlus One successor in the form of OnePlus 2. The smartphone will reportedly be unveiled in the third quarter of 2015. But the infamous invitation system will reportedly be back.

The recent price cut on the device has come at a time when new flagships with latest configurations are getting released across the globe. The Samsung Galaxy S6, Galaxy S6 Edge, LG G4 and HTC One M9 are all making waves in the tech world. Still, while the OnePlus One may not be the flagship killer anymore, the device is good in the mid-to-high end specifications category. Potential buyers can purchase the device via the company’s official store.