Editor's Note: The first wave of OnePlus Nord pre-orders has sold out. The following article has been updated with the next available pre-order dates.

OnePlus is going back to its roots with the launch of the OnePlus Nord line, focusing on creating well-rounded devices at affordable prices. The first device in that series will be available soon, and thanks to OnePlus co-founder Pete Lau, we now know its price.

"The Nord will be the first product under $500 in years," Lau said in the first part of a documentary series OnePlus began posting on its Instagram page OnePlusLiteZThing on June 30. The first wave of pre-orders for this hot device has sold out, but there will be another chance to buy one soon.

OnePlus Nord pre-orders for 100 units opened today (July 1) and sold out almost immediately. The company announced that it will begin taking new pre-orders on July 8 at 10:00 AM CEST/1:00 AM EST/4:00 AM PST. In addition, the company plans to begin accepting reservations on July 15 at the same time.

If you want to make sure you get one, you can sign up to receive notifications on the official OnePlus Nord pre-order page; according to OnePlus, you can pre-order for a payment of £20 and get exclusive merchandise. When the phone goes on sale, an invitation code and a £20 voucher to use for purchase will be sent.

OnePlus has not revealed the exact price, but we do know that the phone will cost $500, making it the latest high-profile edition following a series of affordable flagship releases. Google set the stage last year with the $399 Pixel 3a and $479 Pixel 3a XL. Apple carried the torch with its $399 second-generation iPhone SE. And Samsung's Galaxy A series put the Galaxy S design and elaborate multi-lens image stack within reach of more budget-minded shoppers.

OnePlus is looking to offer something different to the fray with its upcoming Nord device; OnePlus has acknowledged the Nord's existence, but has yet to reveal any details about the device itself, so all we know about the design and specs are rumors We only know rumors about the design and specs.

According to these rumors, the first OnePlus Nord will be powered by the Snapdragon 765 chipset, which, compared to the flagship 865 chipset found in the $699 OnePlus 8 and $899 OnePlus 8 Pro, is slightly It provides 5G connectivity, although it falls short. The exact number of camera lenses is still unknown, but will likely be on both the front and back; it remains to be seen if the OnePlus 8's 90Hz refresh rate will make it to the lower-priced version, but the display is expected to be 6.4 inches from corner to corner.

More details on these will be revealed shortly; the first OnePlus documentary episode ends with the line "Our journey continues July 7th." This means that the next episode will be released then, or that the OnePlus Nord may be fully revealed or begin shipping on that date. So mark your calendars, folks, because we're going to be looking forward to the next episode of the OnePlus Nord.