Three variants of the device -- 6GB RAM/128 GB memory, 8 GB RAM/128 GB memory and 8 GB RAM/256 memory -- will be available from November 2 through online and offline channels.
The device includes features like in-display fingerprint technology, 6.41-inch display and 3,700 mAh battery.
India is a key market for OnePlus and had accounted for about one-third of the company's revenues last year.
Lau had earlier stated that India is set to become the "second home ground" for the Chinese smartphone maker.
OnePlus led the premium smartphone segment (Rs 30,000 and above) in India with 40 per cent market share in the June quarter (2018), helped by record shipments of its OnePlus 6 handset as compared to its previous smartphones, according to Counterpoint Research.
It has continued to lead the premium market -- where it competes with players like Apple and Samsung -- in the third quarter as well but the sales number and market share numbers weren't available.
Lau had earlier also said the Indian market is "now set to become our second home ground, a centre for product innovation. Our new R&D centre in India is just the beginning".
(With inputs from agencies.)