Powered by the latest Snapdragon 801 processor and sporting a 5.5-inch 1080p display, the OnePlus One is very much a high-end smartphone — but it’s going to cost a great deal less than its rivals. Customers in the U.S. will pay less than $400 for the device when it launches next week, while those in Europe will pay under €350.

OnePlus already told us that it was hoping to be able to price its debut smartphone at under $400, but the startup smartphone maker today provided confirmation that this would be the case. It also confirmed the 16 countries where the One would go on sale initially.

Those are Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Italy, the Netherlands, Portugal, Spain, Sweden, Taiwan, the United Kingdom, and the United States.

OnePlus has already done a great job of creating excitement for its first smartphone by releasing small details about the device every few weeks. For those who haven’t been following, we know the device will have a quad-core Snapdragon 801 processor with 3GB of RAM, 16GB or 64GB of storage, and a 13-megapixel Sony camera.

We also know it’ll support global LTE networks, pack a 3,100mAh battery, and a 5.5-inch 1080p display. The One will also be one of the first smartphones to come with CyanogenMod pre-installed, and OnePlus will be adding its own voice wakeup capabilities to the mix.

If you haven’t already picked up one of this year’s new flagship smartphones, but you’re planning to upgrade soon, give it at least a week and wait for the OnePlus announcement on April 23. With those specifications and that price tag, you might regret it if you don’t.