When OnePlus launched two devices simultaneously earlier this year, it was anticipated that the company may not launch a 'T' series device again in 2019. The series, which brings changes to the existing numerical line-up, has been a constant for the previous three generations.

After OnePlus 3T, 5T and 6T, the company is expected to launch the OnePlus 7T by the end of the year. Whether it will be called the OnePlus 7T or OnePlus Pro 7T, remains to be seen. The device is expected to be 5G enabled even though 5G connectivity is available only with select carriers across the world.

OnePlus' Chief Executive Officer Pete Lau told The Financial Times on Wednesday that the company will release a new 5G-enabled device in the fourth quarter of the year. The company already sells a 5G-enabled model of its 7T Pro model in limited markets.

Lau stated, "if you want to be a premium phone in 2020, you have to be equipped with 5G technology. We believe with the development of 5G technology next year we can have an [even] better performance. With the upcoming 5G era approaching, we are going to invest more."

Chances are, that the company might also release two models for the OnePlus 7T/ 7T Pro, a 4G and a 5G one. The reason behind this is that the company's biggest market, India, currently does not have 5G connectivity.

Other features of the device are not known yet. It is widely expected to have the same processor as the OnePlus 7 Pro, the Qualcomm Snapdragon 855+. OnePlus 7 Pro already has all the features that leading flagships, including an edge-to-edge display, an in-display fingerprint scanner and a front camera module that props up using a motorized mechanism.

OnePlus has suffered a major security breach compromising the credit card details of tens of thousands of customers MONEY SHARMA/AFP/Getty Images

OnePlus is expected to increase its range of devices as it expands globally. The company is competing with tech giants such as Samsung, Huawei and Apple and is posting increased revenues and shipments year-on-year. The company has already increased its employee headcount to 1,700 employees. It has also announced that it will launch a TV by the end of the year.