Putting months of speculations to rest, Chinese smartphone maker OnePlus on Tuesday said its new product line in the affordable segment will be known as OnePlus Nord and the first device under the new line will be available in India and Europe.

Earlier speculations suggested that the affordable OnePlus smartphone could be called OnePlus Z or OnePlus 8 Lite.

OnePlus said that the Nord product line follows the company's new global business strategy, which includes introducing new products at more affordable price segments.

OnePlus Nord

OnePlus 8 Pro
OnePlus 8 ProOnePlus

The new product line also addresses feedback from OnePlus' growing community of users, who have shown a strong desire for a more affordable smartphone that incorporates OnePlus' flagship-level product and user experience standards.

"Launching the OnePlus Nord product line marks the beginning of an exciting new chapter for OnePlus. The 'Never Settle' spirit is centered around sharing the best technology and products with the world, but it is also about challenging ourselves and going beyond our comfort zone," Pete Lau, Founder and CEO of OnePlus, said in a statement.

OnePlus R&D facility in Hyderabad
Pete Lau's address at the inauguration of OnePlus R&D facility in HyderabadIBTimes India/Sami Khan

"We are immensely proud of our flagship products and will continue to create more tech-leading flagships for our users. Now we are excited to share the OnePlus experience with even more users around the world through this new product line."

A select number of users in North America will also get a chance to experience the new device through a highly limited beta program after launch, OnePlus said.

In India, users can log on to Amazon.in and click on the Notify Me button to stay updated on OnePlus Nord.

(With inputs from IANS)