Usually by this time of the year, OnePlus tends to get rather busy. They launch their T series phones in a few months and gear up for the next lineup. This time however, the company is even busier as they're launching thier OnePlus TV and now, it seems like they've begun working on a mysterious phone, which could very likely be a 5G phone.
How this phone is different from the OnePlus 7 and OnePlus 7 Pro is that it has a circular back camera module. Now, there is no word whether this will indeed be the One Plus 7T or 7T Pro, but there are equal chances that it could be a standalone phone of another series of 5G phones.
If you remember, prior to the launch of the OnePlus 7, there were loads of leaks and speculations regarding the phone. In one particular leaked picture, one could see the setting of a boardroom meeting and on the screen, was a phone with a circular rear camera module. Additionally, during the time when OnePlus showcased their 5G technology enabled phone, they stated that it would be a standalone phone that would be part of a different lineup.
Have a look at the sketches and see the difference for yourself. It is unlike OnePlus to change the design of a phone so drastically in the T models. With the exception of the OnePlus 5T, most T model phones have followed the same design as the regular models.
It is highly likely that the phone that has appeared in sketches happens to be a 5G phone from the company. This would make sense as OnePlus is all about speed and would not want to fall behind in the 5G race. Apart from that, the CEO of the company had also announced earlier that they would launch a 5G phone very soon.
At any rate, these are all leaks and speculations. The fact that the phone has come up at all is rather unusual and it would be great to see what the company is planning next.