But it's not all roses and magic gravy with the OnePlus One, as the pre-production sample we've been playing with does still pack one or two issues that raised eyebrows when we delved a bit deeper.

The storage

The OnePlus One will no doubt pique the interest of many developers, tech enthusiasts and power users thanks to its CyanogenMod interface, and these are the type of users who will want as much storage as possible.
Plump for the 16GB "Silk White" One Plus One though and you actually only get 12GB of internal storage after you've taken the operating system into account.
OnePlus One
That in itself wouldn't be an issue if there were a microSD slot - but alas you'll have no such joy on the One.
Of course there is always the 64GB "Sandstone Black" model, which is just $50/£40 dearer, but it still doesn't provide the flexibility of expandable storage. You could always get a USB-on-the-go adaptor to plug in a microSD card through the charging port, but that's not integrated into the phone.

The battery

The OnePlus One is lining up to be the go-to power handset on a budget, but anyone who wants a phone they can really hammer won't be too impressed at the fact you can't swap the battery out.
You can remove the rear cover of the One, but that's purely to swap it for a different colour. The 3100mAh battery may look removable, but it's not, so don't go trying to pry it away from the chassis. It'll end badly.

The size

It may be cheap, but the OnePlus isn't exactly small. That's hardly surprisingly considering it's packing a 5.5-inch display, but it does mean it can be a little unwieldy in the hand.
Those with smaller palms may struggle to properly manipulate the OnePlus One using a single paw, and even those with larger limbs will find two-handed typing far more secure.
OnePlus One

The unknown

Who the hell is OnePlus? Well, okay, we know the answer to that one. It's a Chinese firm set up by ex-Oppo employees (another Chinese phone manufacturer).
The thing is, with such a low price tag and top end specs, the profit margin on each handset is likely to be minimal. Can a fledgling mobile manufacturer really sustain itself in the cut throat mobile market with such fine margins?
We fear for the longevity of the company, and the subsequent support of the OnePlus One. It's certainly more of a risk than buying from an already well established brand, although we've no reason to suspect this could happen with OnePlus at this stage.
OnePlus One
We're currently awaiting our full review sample of the OnePlus One to see if it can be a real winner from left-field - the negative points we've outlined above are currently far outweighed by the positives, and if it can sustain this challenge then the likes of Samsung, Sony and HTC could have a real contender on their hands.
At the very least it will ask some questions as to why these larger brands are charging so much more for a flagship handset, and anything that keeps the smartphone market shaking is a good thing in our eyes.