OnePlus is slashing $40 off its flagship OnePlus 2 permanently.

The Chinese startup says the device is now cheaper to produce than it was initially, and it is passing those savings onto fans. The cut means a 64GB device with 4GB of RAM is now available for just $349.

“The invite system helped get the OnePlus 2 off the ground, and now thanks to both timing and scale, our operations have sized up to the Goldilocks principle of just right,” reads the announcement on the OnePlus forum.

“So, why not let our fans join us in celebrating the fruits of our labor? The OnePlus 2 now has a price modification of $349, forever.”

If you live in the U.K. or Europe, the OnePlus 2 now starts at £249 and €345 respectively. What’s more, OnePlus is currently holding a Valentine’s promotion that will provide all customers with a free StyleSwap cover or case when they buy a OnePlus smartphone.

If you recently purchased a OnePlus 2 and you’re bummed out about this discount, you may be eligible for a refund. Providing you purchased your device within the past 15 days, OnePlus will automatically be sending $40 (or the equivalent where you live) back to your account.

• SourceOnePlus