Exclusive: The OnePlus 8 phones could be the most affordable 5G phones of 2020 - here's how much they'll cost

Antonio Villas-Boas/Business Insider

The OnePlus 7 Pro.

• OnePlus CEO Pete Lau confirmed with Business Insider that its upcoming OnePlus 8 smartphones with 5G connectivity won't exceed $1,000 in the US.
• Few 5G smartphones have been released so far, but 5G networking is proving to be an expensive feature.
• Samsung's Galaxy S20 5G phones start at $999.99 and go all the way up to $1,399.99. LG's V60 5G smartphone is among the cheaper 5G phones so far starting around $900, depending on your carrier.
• Lau also confirmed that the OnePlus 8 series will run on the Qualcomm Snapdragon 865 processor - the likely chip of choice for most premium flagship Android phones of 2020.

The upcoming OnePlus 8 smartphones will have 5G connectivity, but they won't cost over $1,000 in the US, OnePlus CEO Pete Lau told Business Insider.

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Lau also confirmed to Business Insider that the OnePlus 8 series will run on the Qualcomm Snapdragon 865 processor - the firm's latest high-performance chip that will turn the wheels on many premium and flagship Android smartphones of 2020.

While Lau wouldn't confirm a solid price tag, we at least know that even the most expensive version of the OnePlus 8 smartphones with 5G will be less expensive than Samsung's cheapest Galaxy S20 5G phone, which starts at $999.99. With Samsung, it only goes up from there - the Galaxy S20 Plus starts at $1,199.99, and the Galaxy S20 Ultra starts at $1,399.99.

Whether the OnePlus 8 series will be cheaper than LG's recently released V60 5G smartphone - which costs around $900 depending on your carrier - remains to be seen. We'll know for sure on April 14 when OnePlus will make the official announcement.

Crystal Cox/Business Insider

The OnePlus 7T.

OnePlus 8 specs we know so far

As for other specs, the OnePlus 8 series will also run on LPDDR5 memory (RAM) and universal flash storage (UFS) 3.0 for fast performance. OnePlus also previously said it's next smartphone will come with a 120Hz refresh rate display, which makes for incredibly smooth animations while you're swiping around the Android operating system and your favorite apps.

All in all, the confirmed specs and a sub-$1,000 price places the OnePlus 8 series smartphones among the most anticipated phones of 2020. After all, here's a smartphone that will offer connectivity to the latest wireless network standards while sporting everything that's expected in a high-end Android smartphone, and it won't have a four-figure price tag.

Even with their sub-$1,000 price tags, the OnePlus 8 phones may represent the most expensive smartphone lineup for a company that's developed a reputation for producing amazing premium smartphones for hundreds less than the competition.

The OnePlus 7T Pro McLaren Edition came with 5G.

OnePlus 8 price explained

Higher price tags are the cost of moving forward, and its mostly thanks to 5G. 5G "poses many more technical challenges compared to 4G," Lau told Business Insider.

Antenna design and squeezing the necessary hardware into a compact smartphone design was "very challenging in terms of design and configuration," Lau also said, "prices across the supply chain, from raw materials to 5G chips, are all rising generally in the industry."

Still, over time, Lau estimates that the price of 5G tech will simmer down after the production, technology, and infrastructure becomes more mature. "The price of 4G devices went down somewhat over time ... we anticipate a similar trend with 5G."

Lau wouldn't elaborate on whether current and previous models of OnePlus phones will be available alongside the OnePlus 8 series, which could serve as less expensive offerings. The highly-rated OnePlus 7T from 2019 can be had for $499.00. That's an incredible value for a smartphone with a high-end chip, triple-camera-system, gorgeous design, smooth 90Hz screen, and comes with one of the fastest chargers included.