Pete Lau (OnePlus' CEO) just made a forum post finally announcing the new budget lineup a lot of people have been waiting for, which will be released only in European and Indian markets for now. Pete hints at a possible release for North America as well, so keep your fingers crossed.
Paul Yu, who's headed product hardware development for previous OnePlus phones, is slated to lead the product team for the new lineup.
In traditional OnePlus fashion, the forum post doesn't offer any more details about the phone(s) themselves - they're merely building up hype. In the meantime, you can have a look at our previous article about the Z-lineup's rumour round-up.
There are a few interesting things to note, however:
Unfortunately, the Instagram account is private, so you'll have to follow the account to view its posts.
Additionally, OneNormalUsername, an Oxygen Updater team member, discovered two new project IDs in the 8-series Android 11 DP1.
This could mean that the budget lineup could include two devices. Their respective project IDs are 19805 and 20809, which can be found in /vendor/firmware/tp and /vendor/etc. He forwarded this information to XDA as well. Project IDs are essentially unique IDs associated with each device.
Ignore 19811 and 19821 on above screenshot, as they're OnePlus 8 Pro and OnePlus 8.