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If latest reports are to be believed, the highly-awaited OnePlus 5 handset will get a summer launch, likely end of June. The wait may be over soon, as the company seems to be ready with yet another super-performance handset, ready to be offered at a jaw-dropping price. OnePlus/Facebook

If latest reports are to be believed, the highly-awaited OnePlus 5 handset will get a summer launch, likely end of June. The wait may be over soon, as the company seems to be ready with yet another super-performance handset, ready to be offered at a jaw-dropping price. Apple, Samsung and Google are all in silent mode, patiently waiting for the launch.

The successor to the OnePlus 3 and 3T is rumoured to have a dual-camera setup and high-end specs. OnePlus confirmed the release news to The Verge. As the number “4” is considered unlucky in Chine culture, hence the company decided to go with the number “5.” Now, reports suggest there is a reason why OnePlus chose the “5” and not something else to represent the “4.” A number of OnePlus employees are fans of former NBA player Robert Horry. He used to wear the number 5 jersey.

Thousands of fans all over the world are waiting for the handset to be released. OnePlus 3 (US$400) and 3T (US$450) were considered two of the best phones released in 2016. If converted to Australian dollar, the price comes to AU$540 and AU$610 approx. OnePlus 5 hopes to live up to fan expectation and even better the predecessors in terms of performance, hardware, specs and features. The company is a prime example of how a small start-up company can make biggies such as Apple, Samsung and Google sweat.

Most Chinese phone companies do not even consider entering the big markets in fear of getting sidelined. OnePlus is different. However, BGR notes that those who try to pre-order the handset now will be disappointed. OppoMart currently lists the price of the device as US$449 (AU$610 approx). However, it is marked out-of-stock and pre-order has not yet started. This information may also be incorrect. As regards the specs, the company is said to incorporate a dual-camera setup, where the rear camera could be of 23MP.

It is unknown whether it will use a wide-angle or a telephoto solution. The smartphone will be powered by a Qualcomm Snapdragon 835 processor, the same chip that powers Samsung Galaxy S8 and S8 Plus. A 5.5-inch AMOLED display has been tipped along with a 1080p panel on top of the display. A QuadHD display does not seem like a possibility. Moreover, the bezel-less, edge-to-edge screens that have suddenly become popular may not grace the OnePlus 5. Stay tuned on IBT AU for more updates on the handset.

[READ MORE: OnePlus 5 CEO teases ‘big surprise’ on Weibo, thanks team for working tirelessly]