New rumor suggests OnePlus 5 will cost ₹32,999 ($510) in India

OnePlus 5 may turn out to be the company's costliest phone yet.

The OnePlus 5 will be launching in India on June 22, where OnePlus is hosting a major launch event for the first time in the country. A teaser from yesterday showed off the device for the first time, confirming dual rear cameras and a design that's similar to that of the OPPO R11.

We haven't heard a lot in terms of pricing, but a new rumor out of True Tech suggests the OnePlus 5 will retail for ₹32,999 ($510) in the country. That's for the base variant with 6GB of RAM and 64GB storage. The publication also mentions a model with 8GB of RAM and 256GB storage that will allegedly be sold for ₹37,999 ($590).

OnePlus has traditionally managed to offer its products at a $30 markup when seen against the U.S. retail price — the OnePlus 3 retailed for ₹27,999 ($430), and the OnePlus 3T was launched for ₹29,999 ($465). Going by that logic, it's likely the OnePlus 5 will retail at around the $479 mark in the U.S. Thankfully for Indian consumers, the OnePlus 3T will be on sale until later this year.

We'll have to wait until June 20 to find out more, but for now it looks like the OnePlus 5 will cost around $40 more than its predecessor.