The OnePlus Z (aka OnePlus Nord) will arrive in July; OnePlus confirmed the launch date of its next budget handset in a puzzle posted on Instagram.

The company's new OnePlusLiteZThing seems to be poking fun at all the rumors surrounding the phone's name, posting a picture of Morse code on its feed. This almost confirms that the OnePlus Z will appear in July.

The Instagram teaser follows an announcement by OnePlus CEO Pete Lau that a less expensive OnePlus phone is indeed coming.

"We are bringing the premium, flagship experience you have come to expect from OnePlus to our new, more affordable smartphone product line," Lau said at the OnePlus Forum. We know there are a lot of people out there who want a really solid smartphone that meets their everyday needs, but at a more affordable price."

The July launch means that the OnePlus Z comes just a few months after the OnePlus 8 Pro and OnePlus 8. Both of these phones are excellent or very good Android devices, but no longer at the bargain prices of previous OnePlus devices; the OnePlus 8 Pro is a very serious flagship with a decent price tag.

However, the OnePlus Z is expected to borrow quite a few features from its more expensive stablemates, including a triple rear camera array, 5G connectivity, and a high refresh rate display. Some reductions will likely be made, such as using the mid-range Snapdragon 765G instead of the high-end Snapdragon 865 chipset and an LCD display instead of an OLED display to keep costs down.

Speaking of which, the OnePlus Z is expected to cost $499 to $649. That would make it more expensive than the $399 iPhone SE 2020 and the upcoming Pixel 4a, which could be as high as $349. But the OnePlus Z is expected to offer a larger display and more features than those cheaper devices.

Be sure to check out the OnePlus Z hub for the latest rumors and leaks leading up to launch.