The foray by Shenzhen-based OnePlus comes after U.S. mobile carriers AT&T and Verizon this year backed away from plans to work with China's Huawei on high-end phones in the face of pressure from the US government, which considers Huawei a security risk.

But the OnePlus alliance, to be announced today in New York, shows how many US-China business relationships, including those involving the most advanced technologies, are marching ahead despite Trump's US- China trade war. OnePlus has quietly become the No. 3 client for Qualcomm's most expensive mobile phone chips, behind Samsung and LG Electronics, according to data from market researcher Canalys.

Today the outfit has released its 6T phone which will sell for a price above $500 but packs features that are typically present only in pricier handsets. Xiaomi, a Chinese rival that also focuses on feature-packed phones at bargain prices, has said it plans to launch in the U.S. next year, but did not respond to a request for comment on whether those plans are still in place.

The OnePlus 6T will laregely offer the same specs as its predecessor -- the OnePlus 6, which was launched earlier this year. Some of the key changes include a smaller notch on the front display and a built-in fingerprint scanner that is embedded in it.