The OnePlus 3 is expected to launch "at the end of the second quarter" according to Carl Pei, one of the company's co-founders sporting a new design.
The comments made to Cnet en Espanol in an interview at Mobile World Congress, imply that we could see a new One Plus handset for June ahead of the summer, but after the roll out of flagship devices from Samsung and LG.
Pei declined to comment further as to what the specs of the OnePlus 3 would be or what the finalised flagship handset would look like only stating that it would feature a "new design".
Leaked specs already "doing the rounds" suggest that the OnePlus 3 will be powered by Qualcomm's new Snapdragon 820 processor and feature a large battery and possibly microSD support.
According to Pei, the OnePlus 3 will arrive in the US and other markets as an unlocked phone and will be sold directly by the company. He says the company expects to offer a "better buying process," although he did not reveal if that would mean abandoning its system of selling by invitation only.
The co-founder also acknowledged, according to the site, that "the company's first phone was a more captivating device than its second generation," adding "he hopes the OnePlus 3 will have 'at least' that special feeling cast by the OnePlus One when users first saw it."
The OnePlus 3 will follow on from the OnePlus 2 and the OnePlus X (pictured) released last year.