Just yesterday the OnePlus Nord was officially unveiled, and OnePlus has revealed yet another official spec.

In an interview with our sister site TechRadar, OnePlus co-founder and director of OnePlus Global, Carl Pei, explained OnePlus' motivation for capturing the mid-budget market, which started with the OnePlus One, and how the Nord series will fit into the existing lineup and how it fits in. Most interesting, however, was the confirmation that the phone will cost less than $500 and will use the Snapdragon 765G chipset.

First, its price: $500 (£403 equivalent) is higher than the iPhone SE (2020) and higher than the rumored unannounced Google Pixel 4a at $349. However, Nord is expected to offer more hardware in return, including a 90Hz display, three rear-facing cameras, and dual selfie cameras.

As for chipsets, Qualcomm's Snapdragon 765G is a good choice for OnePlus; the Snapdragon found in the OnePlus 8 and OnePlus 8 Pro and many other flagship Android smartphones It does not offer the same performance as the 865. However, the chip does offer 5G connectivity, making the Nord more future-proof than its lower-priced rivals.

At under $500, the OnePlus Nord should be one of the cheapest 5G phones yet. iPhone SE is a 4G-only device. Also, the Google Pixel 4a is expected to have a Snapdragon 730, which will give OnePlus a strong advantage over major Android competitors.

The only thing missing is a U.S. launch; OnePlus has confirmed that the phone will be available in Europe and India, but only some U.S. users will be able to access the phone through a small beta program. OnePlus will later release the phone in North America at a later date. Hopefully the Nord line will launch properly.

We expect the OnePlus Nord to launch by the end of the month, with some sort of event on July 7. However, OnePlus has been very cautious about the amount of information they have revealed so far. Therefore, the July 7 event may not be a full launch, but rather a description of exactly what the Nord line will be, as the company has promised that the Nord phone is only the beginning.