OnePlus fans have been waiting for the smartphone maker to announce a follow-up to its sole device. In a report this week, Bloomberg briefly mentioned that Carl Pei's company intends to release a successor in the third quarter of this year. But that phone won't be alone. OnePlus plans to launch a cheaper alternative as well.

We've confirmed this information, so while we don't know any specifics, we can say that shoppers won't have just the OnePlus Two to pick from this year.

OnePlus sold over a million smartphones in 2014, and it plans to move between 3 and 5 million this year. By the end of 2016, it hopes to hit 10 million. Customers have flocked to the One due to its combination of high-end specs and a low price, so we can reasonably expect the company not to veer too far off from this path.

OnePlus is looking to expand its number of employees to 1,500 by the end of this year. It's currently engaging in talks around Silicon Valley to raise funding.

OnePlusOne

The OnePlus One.

OnePlus will continue to embrace the invite system when it launches this year's flagship device. At that time, it will sell the original model like a normal company, no jumping through hoops required.