OnePlus CEO Pete Lau revealed during the launch of the OnePlus 3 in Shenzhen that the company will not be launching a successor to the OnePlus X later this year. Instead, the company is killing off the series entirely, which means that the OnePlus X will be the first and the latest budget smartphone from the Never Settle company.

Pete says the company took this decision not because the OnePlus X did poorly (it did not), but that they just want to focus on one “true flagship” handset from now on, instead of fighting the price war going on in the lower-end of the market. By focusing solely on a flagship handset, OnePlus will be better able to strengthen their foundation, something the CEO admits the company neglected last year. As a part of this plan, OnePlus will be merging its team behind Oxygen OS and their China-only Hydrogen OS. By consolidating their resources, the company is likely hoping to roll out quicker updates. An official announcement regarding this move will be made by the company later this year. During the interview, the CEO also said that OnePlus handsets are doing very well in Europe, Asia, and the United States. In fact, Europe remains the fastest-growing market for the company, with the company dominating the $300+ category in India. Despite being a Chinese company, the Never Settle company is cautious about the market there and won’t be opening any physical retail stores, as many of its Chinese peers are doing. Unveiled yesterday, the OnePlus 3 features a 5.5-inch 1080p AMOLED display, a Snapdragon 820 chipset, 6GB RAM, 64GB storage space, and a 3,000mAh battery. Unlike the previous two handsets from the company, the OnePlus 3 is being sold invite-free, albeit at a slightly higher price.