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(Pocket-lint) - After months of rumours and speculation, the OnePlus 2 has been unveiled in San Francisco.

OnePlus has just shown Pocket-lint its second-generation flagship smartphone (which is a fresh update to the immensely-popular OnePlus One smartphone that debuted over a year ago), and we thought it was a beaut. You can read all about our initial impressions here. We hope to post a full review soon.

The OnePlus 2 is being pitched as a "flagship killer" because it's designed to launch with a premium build as well as premium specs, but it won't have that premium price tag we all hate. The phone has an aluminum-magnesium alloy frame with stainless steel accents, for instance, instead of plastic.

It also has removable back covers, so you can swap out the stock one with Black Apricot, Kevlar, Bamboo, Rosewood, or Sandstone Black alternatives. As for the display, the OnePlus 2 has a Full HD 5.5-inch IPS LCD display with 178-degrees viewing angles, which allows you to still use the phone in bright, sun-lit conditions.

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The OnePlus 2 weighs just 175 grams, has a 3300mAh lithium polymer battery, simultaneously supports two Nano SIM cards with 4G LTE capability, and is powered by the 64-bit Qualcomm Snapdragon 810 SoC. As far as the cameras go, it has a 13-megapixel rear-facing camera and a 5-megapixel front camera.

The rear shooter features a whopping six lenses, dual LED flash, and "large 1.3 µm light-collecting pixels," which OnePlus said lets you take photos in low-light conditions. It also supports 4K resolution video-recording and 720p slow-mo video at 120fps and HDR, so there are plenty of cool camera options available.

Other stand-out features include support for USB Type-C charging, a fingerprint scanner embedded in the capacitive home button, and an alert slider on one edge that enables you to quickly set custom notification preferences. And all this is powered by OxygenOS, OnePlus’ own operating system, based on Android 5.1.

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OxygenOS comes pre-loaded with OnePlus apps like Camera, Audio Tuner, and File Manager, but it still provides access to the Google Play Store as well as Google Apps like Gmail, YouTube, Google Now, and more.

At launch, on 11 August, you can get OnePlus 2 for $389 with an invite.

It'll come with 64GB of storage and eMMC 5.0 flash memory and is paired with up to 4GB of LPDDR4 RAM. OnePlus said it will also sell a 16GB version with 3GB of RAM for $329 at a later date.

Writing by Elyse Betters.