China smartphone maker OnePlus introduces its the 'One', a slim and light smartphone with impressive, beefy specs. After much hype over the launch of OnePlus's first smartphone, the so called "2014 flagship killer" finally become official during an event in China on Wednesday.

The One embodies its maker's motto "Never Settle," and boasts a leading design, superb build, disruptive price point and top-of-the-line specs.

Specs

The magnesium-built One weighs 5.7 ounces (162 grams) and has a recessed bezel rounding its edges, called "beautiful contours." Teasing the tech industry audience earlier are the One's specs – a Snapdragon 801 2.5 GHz CPU, 3GB RAM, 5.5-inch HD display, 13MP and 5MP rear and front cameras, 3100mAh battery, 16GB and 64GB storage options and LTE technology.

The One's rear camera is equipped with a six-lens arrangement and f/2.0 aperture to enable the device to take pictures fast, even in low light. As for its OS, Cyanogenmod has been rumored and now, it seems, confirmed.

One claims to be the world's first phone with stereo speakers which are bottom-facing. American audio electronics manufacturer JBL is said to have been involved in its creation.

Price

The price of the One is also exciting many. The 16GB variant will come SIM-free and unlocked for $299 while the 64GB version will be available at $349. The price tags are equivalent to £229/£269 and €269/€299 in European markets.

Release

One is set to roll out the markets sometime in the second quarter. The phone is said to come in silky white or sandstone black, with customizable texture options like kevlar and denim. The One is currently said to be planned for release in the following markets: USA, UK, Taiwan, Sweden, Spain, Portugal, Netherlands, Italy, Hong Kong, Germany, France, Finland, Denmark, Canada, Belgium and Austria.