When Pete Lau resigned as VP of Chinese electronics maker Oppo, it was accompanied by rumors that he was going to build his own tech company. Well, whoever spread those rumors spoke the truth, because Lau has just announced a new venture called OnePlus that promises "to spare no expense" to build "the perfect smartphone." The exec reveals very little on his announcement post other than his desire to make the "best possible product for users worldwide" -- it didn't even mention CyanogenMod, which is reportedly developing a phone with him. Our sources have told us, however, that Oppo will manufacture the company's first device, signifying that Lau never burned bridges when he left. We'll update you when we hear more details, but for now, you can let OnePlus know what you think makes a great phone on its forum.