One of the best things about the OnePlus One was that it was cheap. Unfortunately, because the sequel is coming with more premium specs, the base price will be more expensive than the $299 starting price of the original when it launched last year. How much more? According to OnePlus CEO Pete Lau, consumers can expect to pay less than $450.

The company on Monday addressed rumors regarding the device’s price, confirming what fans can expect to pay when the flagship is announced at the end of July. “I can promise that the OnePlus 2 will be priced under 450 USD,” Lau said recently.

“We’ve seen price estimates for the OnePlus 2 upward of $500,” the company wrote on Google+. “But, we made a promise to our users. Honestly, it’s never been about the price. We simply make the best smartphones we can, and we go from there.”

The higher cost is due in large part to the specs of the OnePlus 2, which have been slowly revealed over the past few months. The company has already confirmed the handset will sport USB Type-C, a fingerprint scanner, and a Snapdragon 810 processor.

While we haven’t gotten any official looks at the device just yet, those who have seen the OnePlus 2 claim it’s “premium,” “fabulous,” and “perfect.” We’ll reserve judgment until we actually see the phone later this month, but based on the specs, price and leaks we’ve seen, it sure sounds like the OnePlus 2 will be one sequel better than the original.