The OnePlus Two, the successor to the OnePlus One, is now targeted for a third quarter 2015 launch, with a cheaper smartphone from the same company planned for release by the end of the year.

OnePlus One

Previously, the OnePlus Two was supposed to launch either in the second or third quarter but a new Bloomberg feature confirmed the later time period for the smartphone's launch.. While the article didn't offer any details about either of OnePlus's upcoming smartphones, it did say the company plans to ship between 3 to 5 million units in 2015, with up to 10 million units shipping by 2016.

OnePlus, which has sold over one million units of its first smartphone, the OnePlus One, is currently seeking venture capital funding to help the company expand, according to its co-founder Carl Pei:

"We lack the experience to help us grow one step further, so we are actually in talks with VCs in the Valley," Pei said in an interview at company headquarters in Shenzhen, China. "The most important part is access to experience and senior-level talent that will help us scale further." He declined to give an estimate of the amount of funds to be raised or the company's valuation.

OnePlus also wants to start selling software and services for its devices as well, with CEO Pete Lau stating that they want "many software developers to use our platform to give end users more choice."

Source: Bloomberg