After the recent announcement and release of the new OnePlus 2 handset, OnePlus is reportedly planning to release yet another smartphone sometime before the end of the year, as disclosed by the company's CEO Carl Pei.

Dubbed the "OnePlus Mini," reports say this new smartphone is expected to be released near Christmas.

According to IT Pro Portal, the phone might come with upgraded specifications in comparison with the OnePlus 2; however, no other details have been mentioned.

Based on a post from PC Advisor UK, the OnePlus Mini might come with a display screen size that's somewhere between 4.5 inches and 5.5 inches. The report adds that a fingerprint sensor might also exist within the new OnePlus Mini.

A report by International Business Times AU claims the phone would cost about US$300, which is less expensive than the price of the OnePlus 2 (US$450). The report appends that the OnePlus Mini could arrive sometime after the launch of the OnePlus 2 smartphone.

In an interview with USA Today, the smartphone vendor's CEO was asked about the lack of near field communication (NFC) capability in OnePlus 2. Pei answered, "I think the entire issue of NFC is overblown. Very few people are using NFC, so we cut it. It's as simple as that."

"I know that Android Pay is coming but all that is in the future. It (NFC) is going to gain widespread adoption in stores 12-18 months from now. By that time people will have moved on to the next device," Pei added.

Pei also stated that five years from now OnePlus is expecting to be one of the three major smartphone makers in the world, alongside tech giants Samsung Electronics and Apple Inc.

In the meantime, it was recently revealed that the first batch of the OnePlus 2, which went on sale this month, already ran out in just a minute, according to GSM Arena. The report adds that the next batch is expected to be available on Aug. 11.