In spite of the OnePlus One only just receiving its first proper taste of Android 5.0 (Lollipop) in yesterday's release of Cyanogen OS 12 and last week's release of OxygenOS, this is still a very young device. In fact, the device has not fully even reached its first year anniversary. Although, this is very much upon on. Either way, the device is also reaching that time when the market dictates that its successor must be arriving.
In terms of the follow-up device, it is largely confirmed that the OnePlus Two (being touted as "OnePlus2") is due to be released in the third quarter of this year. This seems to be largely understood, although, there has been the odd rumor that the processor might be an issue and may delay the launch of the device due to what was supposed to be a Qualcomm Snapdragon 810 processor inside. That aside, there has also been an interesting rumor circulating since January that OnePlus may actually release two devices this year. The expected OnePlus Two and another device.
Although there is still no firm confirmation on this and instead, this very much still remains a highly rumored aspect, a new video report by Bloomberg which surfaced today seems to confirm that OnePlus will indeed release two devices before the year is out. Again, there were no proper details provided about the mysterious second device, but the Bloomberg video report (which was a tour of the OnePlus offices) stated that as well as the OnePlus Two, OnePlus will release a second "cheaper model" by the end of this year. This seems to fit somewhat with the similar rumor reported back in January in which Carl Pei of OnePlus stated that a second device which will cater "for those who appreciate design over specs". As such, it does seem to make sense that a device 'low on specs' will come in at a much cheaper price. Especially, as it is generally believed that the OnePlus Two will come in at a higher price-point than the current One. Normally, such rumors are taken with large amounts of skepticism. However, as this report involved direct access to OnePlus, it does seem to suggest that they might have been privy to some additional information. You can check out the video report by clicking the source link below.