Aside from HTC’s All New One, there is a new One in gadget town. Meet the OnePlus One. The One is OnePlus’ first smartphone offering that runs CyanogenMod straight from the factory as we described earlier.

OnePlus is a new startup led by ex-Oppo executive Pete Lau. He left Oppo to start a new Shenzhen-based company that according to him would build the ‘perfect phone’. Of course, that’s ambitious but now that it’s here, we’ll know what the One smartphone is all about. I just hope people don’t confuse this with the new HTC One M8.

The One phone is finally announced and it’s expected to rival the Nexus phone.

OnePlus One is packed with the following: 5.5-inch full HD JDI-made display screen, quad-core 2.5GHz Krait 400 CPU, Qualcomm Snapdragon 801 (8974AC) platform, 3GB LPDDR3 RAM, 401ppi pixel density, JBL fine tuning, dual stereo speakers, a 13 megapixel Sony IMX214 Sensor, 6 Lenses and f/2.0 Aperture.

The OnePlus One costs $299 for the entry-level 16GB model. There’s also the $64GB version which is more expensive at $349. Phone is based >on Android 4.4 KitKat but runs CyanogenMod 11S– the first of its kind.

We don’t know when exactly the phone will be available but expect a mid to late May arrival.

[via Engadget]