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OnePlus 2 gets an important updateIBTimes India/ Anirban Roy

OnePlus hasn't claimed that its upcoming smartphone OnePlus 3 will be a "flagship killer" like it did with the OnePlus 2 last year, but it certainly has garnered enough attention over the last few months mainly due to the success of its predecessors. The next-generation smartphone is also expected to have several feature upgrades over the current flagship.

Here are five things OnePlus fans and gadget lovers will want to know:

1) Release date: It is confirmed that the OnePlus 3 will be unveiled unveiled at 12:30 pm (Eastern Time) on June 14, before open sales starts at 3:00 pm (Eastern Time) on the same day. Interestingly, the announcement event will take place virtually via Loop VR headsets the company has supplied to fans.

2) Display: The OnePlus 3 is expected to sport a 5.5-inch AMOLED full HD display with 1,080×1,920 pixel (401 ppi pixel density), measure 152.6×74.6×7.3 mm in dimension, and weigh 160 grams, according to TENAA.

3) Hardware: It is expected to be powered by a Qualcomm Snapdragon 820 processor that is seem in all flagship devices released in 2016, including the Samsung Galaxy S7, Xiaomi Mi 5, LG G5 and HTC 10. The device may come running Android 6.0.1 Marshmallow operating system and should be illegible for an upgrade to Android N.

4) Storage: The OnePlus 3 is expected to come in six variants, three with 4GB RAM (32GB, 64GB and 128GB internal memory) and another three with 6GB RAM (32GB, 64GB and 128GB internal storage).

5) Camera and battery: The device may house a 16MP main camera, an 8MP front-snapper, and a 3,000mAh battery.

According to a report by AndroidWorld, the OnePlus 3 will be available at 2,999 Yuan (around $455/Rs. 30,600) during the first flash sale, but that is not the final price. It has said that the buyers have to pay more if the actual price is more than 2,999 Yuan, and will be paid back if the price is lesser than the amount they have paid. Consumers can pull out of the deal within seven working days if they are not happy with it.