OnePlus is expected to launch the OnePlus Two next week, the highly anticipated sequel to the “Never Settle” OnePlus One, a handset that offered flagship specs and build at a fraction of the normal price. The Chinese company has scheduled a June 1st media event and while the OnePlus Two is unlikely to land until later in the year, its announcement next week will mean a price cut for the outgoing OnePlus One.

It’s worth noting from here that the OnePlus One is already a bargain, a $300-$349 handset with true flagship specs and a premium feel. Next week though it will move into genuine bargain territory and becomes something of a must have. That’s because OnePlus is slashing $50 off its smartphones, with the 64GB Sandstone black model that will now be just $298 (previously $349), while the 16GB Silk White Model will now be just $248, down from $299.

Obviously, if you were planning on buying the OnePlus One during this weekend, we would strongly advise you wait until this new price kicks in. Sadly the cut will not include India, where the One will retain its normal pricing. The only reason we can think of is because the device only launched in the country late last year and is still fresh on the market.